Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 15th, 2020

Litecoin

Litecoin rose by 1.93% on Monday. Reversing a 1.65% decline from Sunday, Litecoin ended the day at $49.12

A mixed start to the day saw Litecoin fall to an early morning intraday low $47.15 before making a move.

Steering clear of the first major support level at $46.64, Litecoin rallied to a late afternoon intraday high $49.66.

Falling short of the first major resistance level at $50.38, Litecoin slipped back to sub-$49 levels before recovering to $49 levels.

At the time of writing, Litecoin was down by 0.20% to $49.02. A mixed start to the day saw Litecoin rise to an early morning high $49.20 before falling to a low $48.77.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid a fall through the pivot level a $48.64 to support a run at the first major resistance level at $50.14.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $49.66.

Barring an extended crypto rally, the first major resistance level and resistance at $50 would likely cap any upside.

Failure to avoid a fall through the pivot level a $48.64 would bring the first major support level at $47.63 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$47 levels. The second major support level sits at $46.13.

Looking at the Technical Indicators

First Major Support Level: $47.63

First Major Resistance Level: $50.14

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 0.26% on Monday. Following a 4.52% slide on Sunday, Stellar’s Lumen ended the day at $0.080175.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.07874 before making a move.

Steering clear of the first major support level at $0.07792, Stellar’s Lumen rallied to a mid-afternoon intraday high $0.082008.

Falling short of the first major resistance level at $0.08337, Stellar’s Lumen slid back to sub-$0.08 levels before finding support.

A move back through to $0.08 levels delivered the upside on the day.

At the time of writing, Stellar’s Lumen was up by 0.06% to $0.080227. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.079829 before rising to a high $0.080403.

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

For the day ahead

Stellar’s Lumen would need to move through the $0.08031 pivot to support a run at the first major resistance level at $0.08188.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.081 levels.

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

Failure to move through the $0.08031 pivot would bring the first major support level at $0.07861 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07704.

Looking at the Technical Indicators

First Major Support Level: $0.07861

First Major Resistance Level: $0.08188

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 0.58% on Monday. Following on from a 6.13% slide on Sunday, Tron’s TRX ended the day at $0.030424.

It was another mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.03008 before making a move.

Steering clear of the first major support level at $0.02905, Tron’s TRX rose to an early afternoon intraday high $0.03159.

Falling short of the first major resistance level at $0.03265, Tron’s TRX slid back to $0.030 levels and into the red.

In spite of the late pullback, Tron’s TRX avoided a fall through the 23.6% FIB of $0.0291, however.

At the time of writing, Tron’s TRX was down by 1.09% to $0.03009. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.030497 before falling to a low $0.029932.

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 $0.03070 pivot level to support a run at the first major resistance level at $0.03132.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.031 levels.

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

Failure to move through the $0.03070 pivot level would bring the first major support level at $0.2981 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.029 levels. The second major support level at $0.02919 and 23.6% FIB of $0.0291 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02981

First Major Resistance Level: $0.03132

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