Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 9th, 2020

Litecoin

Litecoin fell by 0.36% on Monday. Following on from a 0.30% decline on Sunday. Litecoin ended the day at $46.67.

Another mixed start to the day saw Litecoin rise to an early morning intraday high $46.76 before hitting reverse.

Falling short of the first major resistance level at $47.38, Litecoin slid to a mid-afternoon intraday low $45.98.

Steering clear of the first major support level at $45.48, bounced back in a final hour rebound to limit the loss on the day.

At the time of writing, Litecoin was down by 0.99% to $46.01. A choppy start to the day saw Litecoin rise to an early morning high $46.87 before falling to a low $45.50.

Litecoin came up against the first major resistance level at $46.83 before hitting reverse. The reversal saw Litecoin fall through the first major support level at $46.05 and the second major support level at $45.62.

For the day ahead

Litecoin would need to move through to $46.40 levels to support another run at the first major resistance level at $46.83.

Support from the broader market would be needed, however, for Litecoin to break out from the first major support level at $46.05.

Barring another extended crypto rally, the first major resistance level and morning high should limit any upside.

Failure to move through to $46.40 levels could see Litecoin see red for a 3^rd consecutive day.

A fall back through to sub-$46 levels would bring the second major support level at $45.62 back into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$45 levels. The second major support level at $45.62 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $46.05

Major Resistance Level: $46.83

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 0.61% on Monday. Partially reversing a 1.85% from Sunday, Stellar’s Lumen ended the day at $0.79501.

It was a mixed start to the day. Stellar’s Lumen rose to an early morning high $0.079369 before hitting reverse.

Coming up short of the first major resistance level at $0.08082, Stellar’s Lumen slid to a mid-morning intraday low $0.078594.

Steering clear of the first major support level at $0.07619, Stellar’s Lumen rallied to an early afternoon intraday high $0.080435.

Coming up short of the first major resistance level at $0.08082, Stellar’s Lumen fell back to sub-$0.079 levels.

Finding late support from the broader market, however, Stellar’s Lumen move back through to $0.079 levels and into the green.

At the time of writing, Stellar’s Lumen was down by 0.15% to $0.079382. A choppy start to the day saw Stellar’s Lumen rise to an early morning high $0.080246 before falling to a low $0.078524.

Falling short of the major resistance levels, Stellar’s Lumen tested the first major support level at $0.07859 early on.

For the day ahead

Stellar’s Lumen would move through to $0.07950 levels to take another run at the first major resistance level at $0.08043.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.080 levels.

Barring another broad-based crypto rally, the first major resistance level and Monday’s high $0.08043 would likely limit any upside.

Failure to move through to $0.07950 levels could see Stellar’s Lumen give up Monday’s gain.

A fall through the first major support level at $0.07859 would bring sub-$0.078 levels into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07767.

Looking at the Technical Indicators

Major Support Level: $0.07859

Major Resistance Level: $0.08043

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 fell by 1.41% on Monday. Partially reversing a 6.86% rally from Sunday, Tron’s TRX ended the day at $0.017926.

A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017993 before making a move.

Steering clear of the major support levels, Tron’s TRX rallied to a mid-morning intraday high $0.018604 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.01859 before sliding to a mid-afternoon intraday low $0.017751.

Steering clear of the first major support level at $0.01732, Tron’s TRX recovered to $0.01790 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was down by 1.49% to $0.017659. It was a particularly choppy start to the day. Tron’s TRX rallied to an early morning high $0.018005 before hitting reverse.

Falling short of the major resistance levels, Tron’s TRX slid to an early morning low $0.017532. The reversal saw Tron’s TRX fall through the first major support level at $0.01758 in the 1^st hour.

For the Day Ahead

Tron’s TRX would need to move through to $0.01810 levels to support another run at the first major resistance level at $0.01844.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.018005.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.

Failure to move through to $0.01810 levels would bring the first major support level at $0.01758 back into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.017 levels. The second major support level at $0.01724 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01758

Major Resistance Level: $0.01844

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