Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 17th, 2020

Litecoin

Litecoin rose by 0.23% on Tuesday. Partially reversing a 0.50% fall from Monday, Litecoin ended the day at $43.86.

It was a mixed start to the day. Litecoin fell to an early morning low $43.43 before rising to an early intraday high $44.21.

Falling short of the first major resistance level at $44.63, Litecoin fell to a midday intraday low $43.32

Steering clear of the first major support level at $42.30, Litecoin found support late on to end the day in the green.

At the time of writing, Litecoin was down by 0.93% to $43.45. A bearish start to the day saw Litecoin fall from an early morning high $43.90 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 move through the $43.80 pivot to support a run at the first major resistance level at $44.27.

Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.

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

Failure to move back through the $43.80 pivot could see Litecoin fall further back into the red.

A fall back through the morning low $43.43 would bring the first major support level at $43.38 into play.

In the event of another extended crypto sell-off, the second major support level at $42.91 would likely come into play.

Looking at the Technical Indicators

Major Support Level: $43.38

Major Resistance Level: $44.27

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 1.24% on Tuesday. Reversing a 0.15% fall from Monday, Stellar’s Lumen ended the day at $0.070824.

It was a bullish start to the day. Stellar’s Lumen rose from an early morning intraday low $0.069558 to a late morning intraday high $0.07200.

Falling short of the first major resistance level at $0.07283, Stellar’s Lumen fell back to a low $0.070084.

Finding support from the broader market, however, Stellar’s Lumen revisited $0.071 levels before easing back.

At the time of writing, Stellar’s Lumen was down by 0.42% to $0.070524. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.071123 to a low $0.070524.

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

For the day ahead

Stellar’s Lumen would need to move back through the $0.07090 pivot to support a run at the first major resistance level at $0.07190.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.071 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $0.072 would likely limit any upside.

Failure to move through the $0.07090 pivot could see Stellar’s Lumen struggle throughout the day.

A fall through to sub-$0.070 levels would the first major support level at $0.06985 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06889.

Looking at the Technical Indicators

Major Support Level: $0.06985

Major Resistance Level: $0.07190

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 gained just 0.06% on Tuesday. Following a 0.29% rise on Monday, Tron’s TRX ended the day at $0.016157.

It was a relatively bullish start to the day. Tron’s TRX rose an early morning intraday high $0.016275 before hitting reverse.

Falling short of the first major resistance level at $0.01654, Tron’s TRX slid to an early afternoon intraday low $0.015993.

Steering clear of the first major support level at $0.01538, Tron’s TRX recovered to $0.0165 levels to end the day flat.

At the time of writing, Tron’s TRX was down by 0.93% to $0.016007. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.016102 to a low $0.016007.

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

For the Day Ahead

Tron’s TRX would need to move through the $0.01614 pivot to support a run at the first major resistance level at $0.01629.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.016275.

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

Failure to move back through the $0.01614 pivot would bring the first major support level at $0.01601 into play.

In the event of an extended crypto sell-off, Tron’s TRX would likely test the second major support level at $0.01586 before any recovery.

Looking at the Technical Indicators

Major Support Level: $0.01601

Major Resistance Level: $0.01629

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