Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 2nd, 2020

Litecoin

Litecoin rose by 2.92% on Tuesday. Reversing a 3.13% slide from Monday, Litecoin ended the day at $62.71.

A mixed start to the day saw Litecoin slide to an early morning intraday low $59.77 before making a move.

Finding support at the first major support level at $59.77, Litecoin rallied to a late intraday high $64.38.

Litecoin broke through the first major resistance level at $62.91 before easing back late in the day.

At the time of writing, Litecoin was up by 0.02% to $62.72. A mixed start to the day saw Litecoin rise to an early morning high $63.13 before falling to a low $62.24.

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

For the day ahead

Litecoin would need to avoid a fall back through the $62.29 pivot to support a run at the first major resistance level at $64.80.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $64.38.

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

Failure to avoid a fall back through the $62.29 pivot would bring the first major support level at $60.19 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $57.68.

Looking at the Technical Indicators

First Major Support Level: $60.19

First Major Resistance Level: $64.80

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 2.15% on Tuesday. Reversing a 1.49% fall from Monday, Stellar’s Lumen ended the day at $0.098826.

It was a bearish start to the day. Stellar’s Lumen slid to an early morning intraday low 0.095585 before making a move.

Steering clear of the first major support level at $0.09494, Stellar’s Lumen rallied to a late intraday high $0.101318.

Stellar’s Lumen broke through the first major resistance level at $0.09872 and the second major resistance level at $0.10069.

A late pullback saw Stellar’s Lumen fall back through the major resistance levels before wrapping up the day at $0.0988 levels.

The first major resistance level at $0.09872 pinned Stellar’s Lumen back late in the day.

At the time of writing, Stellar’s Lumen was up by 0.19% to $0.099014. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.0998 before falling to a low $0.09843.

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 back through the $0.09858 pivot to support a run at the first major resistance level at $0.10157.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.101318.

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

Failure to avoid a fall back through the $0.09858 pivot would bring the first major support level at $0.09583 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.090 levels. The second major support level at $0.09284 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.09583

First Major Resistance Level: $0.10157

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 surged by 19.05% on Tuesday. Following on from an 8.14% rally on Monday, Tron’s TRX ended the day at $0.034699.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $ 0.027982 before making a move.

Steering clear of the first major support level at $0.02668, Tron’s TRX rallied to a late intraday high $0.036051.

Tron’s TRX broke through the first major resistance level at $0.03087 and the second major resistance level at $0.03249.

Coming up short of the third major resistance level at $0.03667, Tron’s TRX eased back to end the day at $0.034 levels.

At the time of writing, Tron’s TRX was down by 2.43% to $0.033854. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.035511 before falling to a low $0.033161.

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 $0.03291 pivot level to support a run at the first major resistance level at $0.03874.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.035511.

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

Failure to avoid a fall through the $0.03291 pivot level would bring the first major support level at $0.02977 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 sits at $0.02484.

Looking at the Technical Indicators

First Major Support Level: $0.02977

First Major Resistance Level: $0.03784

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