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

Litecoin

Litecoin fell by 1.18% on Wednesday. Following a 1.59% decline on Tuesday, Litecoin ended the day at $47.74.

A bearish start to the day saw Litecoin fall to an early morning intraday low $47.00 before finding support.

Litecoin fell through the first major support level at $47.53 before rebounding to a late afternoon intraday high $48.76.

Falling short of the first major resistance level at $49.72, Litecoin fell back to end the day at sub-$48 levels.

At the time of writing, Litecoin was up by 3.44% to $49.38. A bullish start to the day saw Litecoin rally from an early morning low $47.65 to a high $49.62.

Litecoin broke through the first major resistance level at $48.67 and the second major resistance level at $49.59 early on.

For the day ahead

Litecoin would need to avoid a fall back through to sub-$49 levels to support another run at the second major resistance level at $49.59.

Support from the broader market would be needed, however, for Litecoin to break back through to $49.50 levels.

Barring an extended crypto rally, the second major resistance level and the morning high $49.62 would likely cap any upside.

Failure to avoid a fall back through to sub-$49 levels would bring the $47.83 pivot level into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$47 levels. The first major support level sits at $46.91.

Looking at the Technical Indicators

First Major Support Level: $46.91

First Major Resistance Level: $48.67

23.6% FIB Retracement Level: $

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 2.73% on Wednesday. Reversing a 2.93% fall from Tuesday, Stellar’s Lumen ended the day at $0.079945.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.07500 before making a move.

The reversal saw Stellar’s Lumen slide through the first major support level at $0.07638.

Finding support at the second major support level at $0.07493, Stellar’s Lumen struck a mid-day intraday high $0.081349.

Stellar’s Lumen broke through the first major resistance level at $0.08040 before falling back to sub-$0.080 levels.

At the time of writing, Stellar’s Lumen was up by 2.39% to $0.081854. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.079449 to a high $0.082205.

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 $0.07876 pivot to support another run at the first major resistance level at $0.08253.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.082205.

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

Failure to avoid a fall through the $0.07876 pivot level would bring the first major support level at $0.07618 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.076 levels. The second major support level sits at $0.07242.

Looking at the Technical Indicators

First Major Support Level: $0.07618

First Major Resistance Level: $0.08253

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 slid by 5.15% on Wednesday. Following on from a 7.84% tumble on Tuesday, Tron’s TRX ended the day at $0.026393.

It was a bearish day. Tron’s TRX fell to an early morning low $0.02658 before making a move.

Tron’s TRX fell through the first major support level at $0.02674 before striking a mid-day intraday high $0.02992.

The rebound saw Tron’s TRX break through the 23.6% FIB of $0.0291 and the first major resistance level at $0.02982.

A bearish 2^nd half of the day, however, saw Tron’s TRX slide to a late intraday low $0.026037.

Tron’s TRX fell back through the first major support level at $0.02674 to wrap up the day at $0.0263 levels.

At the time of writing, Tron’s TRX was up by 3.39% to $0.027288. A bullish start to the day saw Tron’s TRX rally from an early morning low $0.02623 to a high $0.02748.

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

For the Day Ahead

Tron’s TRX would need to move back through the $0.02745 pivot level to support a run at the first major resistance level at $0.02886.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.028 levels.

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

Failure to move back through the $0.02745 pivot level would bring the first major support level at $0.02498 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.024 levels. The second major support level sits at $0.02357.

Looking at the Technical Indicators

First Major Support Level: $0.02498

First Major Resistance Level: $0.02886

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