Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 10th, 2020

Litecoin

Litecoin rose by 0.82% on Wednesday. Partially reversing a 2.82% slide from Tuesday, Litecoin ended the day at $47.86.

A mixed start to the day saw Litecoin fall to an early morning intraday low $46.55 before making a move.

Steering clear of the first major support level at $45.87, Litecoin climbed to a late intraday high $48.86.

Falling short of the first major resistance level at $49.23, Litecoin eased back to wrap up the day at sub-$48 levels.

At the time of writing, Litecoin was up by 2.65% to $49.13. A bullish start to the day saw Litecoin rise from an early morning low $48.55 to a high $49.22.

Litecoin broke through the first major resistance level at $48.96 early on.

For the day ahead

Litecoin would need to avoid a fall back to sub-$49 levels to support a run at the second major resistance level at $50.07.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $49.22.

Barring an extended crypto rally, the second major resistance level would likely cap any upside.

Failure to avoid a fall through to sub-$49 levels would bring sub-$48 levels into play before any recovery.

Barring an extended sell-off, however, Litecoin should avoid a fall through the pivot level at $47.76.

In the event of an extended sell-off, the first major support level at $46.65 would likely limit any downside.

Looking at the Technical Indicators

First Major Support Level: $46.65

First Major Resistance Level: $47.76

23.6% FIB Retracement Level: $48.96

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 1.12% on Wednesday. Partially reversing a 1.77% decline from Tuesday, Stellar’s Lumen ended the day at $0.07825.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.075515 before making a move.

Steering clear of the first major support level at $0.07511, Stellar’s Lumen rose to a late intraday high $0.079789.

Stellar’s Lumen broke through the first major resistance level at $0.07960 before falling back to sub-$0.078 levels.

Finding late support, Stellar’s Lumen moved back through to $0.078 levels to deliver the upside on the day.

At the time of writing, Stellar’s Lumen was up by 2.26% to $0.080016. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.078194 to a high $0.080144.

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 $0.07785 pivot to support another run at the first major resistance level at $0.08019.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.080144.

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

Failure to avoid a fall through the $0.07785 pivot would bring the first major support level at $0.07591 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07358.

Looking at the Technical Indicators

First Major Support Level: $0.07591

First Major Resistance Level: $0.08019

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX fell by 3.31% on Wednesday. Partially reversing an 8.15% rally from Tuesday, Tron’s TRX ended the day at $0.033973.

It was a bullish start to the day. Tron’s TRX rose to an early morning intraday high $0.036010 before hitting reverse.

Coming up against the first major resistance level at $0.03660, Tron’s TRX slid to final hour intraday low $0.033567.

Steering clear of the first major support level at $0.03260, Tron’s TRX recovered to $0.0339 levels to limit the loss.

At the time of writing, Tron’s TRX was up by 2.06% to $0.034672. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.033828 before rising to a high $0.034911.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.03477 pivot level to support a run at the first major resistance level at $0.03596.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.035 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.03477 pivot level would bring the first major support level at $0.03278 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of $0.030 levels. The second major support level at $0.03158 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.03278

First Major Resistance Level: $0.03596

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob