Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 16th, 2020

Litecoin

Litecoin fell by 0.50% on Monday. Following on from a 2.42% decline on Sunday, Litecoin ended the day at $43.74.

It was a bearish start to the day. Litecoin slid from an early morning high $44.04 to a mid-morning intraday low $41.75.

Litecoin fell through the first major support level $43.33 and second major support level at $42.66.

Finding late support in the late morning, Litecoin broke back through the major support levels to a late intraday high $44.08.

Falling short of the first major resistance level at $44.87, Litecoin eased back to sub-$44 and into the red.

At the time of writing, Litecoin was down by 0.55% to $43.50. A bearish start to the day saw Litecoin fall from an early morning high $43.85 to a low $43.43.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall through the $43.19 pivot to support a run at the first major resistance level at $44.63.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $44.08.

Barring broad-based crypto rebound, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $43.19 pivot could see Litecoin fall further back.

A fall back through to sub-$43 levels would bring the first major support level at $42.30 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.86 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $42.30

Major Resistance Level: $44.63

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 0.15% on Monday. Following on from a 3.72% slide on Sunday, Stellar’s Lumen ended the day at $0.070564.

A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.070855 before hitting reverser.

Falling short of the first major resistance level at $0.07315, Stellar’s Lumen slid to a mid-morning intraday low $0.065800.

Stellar’s Lumen fell through the first major support level at $0.06987 and the second major support level at $0.06861.

Steering clear of the third major support level at $0.06533, Stellar’s Lumen rallied to a late intraday high $0.071578.

Falling well short of the first major resistance level at $0.07315, Stellar’s Lumen eased back into the red.

At the time of writing, Stellar’s Lumen was down by 0.85% to $0.069962. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.069962 to a low $0.069958

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.06930 pivot to support a run at the first major resistance level at $0.07283.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.071578.

Barring a broad-based crypto rally, resistance at $0.072 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to avoid a fall through the $0.06931 pivot could see Stellar’s Lumen struggle throughout the day.

A fall through the pivot would the first major support level at $0.06705 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06354.

Looking at the Technical Indicators

Major Support Level: $0.06705

Major Resistance Level: $0.07283

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rose by 0.29% on Monday. Following on from a 2.64% fall on Sunday, Tron’s TRX ended the day at $0.016126.

It was a bearish start to the day. Tron’s TRX slid from an early morning high $0.016080 to a mid-morning intraday low $0.015058.

Tron’s TRX fell through the first major support level at $0.01589 and the second major support level at $0.01556.

Finding support at $0.015, Tron’s TRX rallied to a late intraday high $0.016220 before easing back into the red.

At the time of writing, Tron’s TRX was down by 0.46% to $0.016052. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.016147 to a low $0.016042.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.01580 levels to support a run at the first major resistance level at $0.01654.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.016220.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.016220 would likely cap any upside.

Failure to avoid a fall through the $0.01580 pivot would bring the first major support level at $0.01538 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01464.

Looking at the Technical Indicators

Major Support Level: $0.01538

Major Resistance Level: $0.01654

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob