Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 29th, 2020

Litecoin

Litecoin rose by 0.71% on Sunday. Partially reversing a 4.67% slide from Saturday, Litecoin ended the week down by 3.82% to $41.32.

A bearish start to the day saw Litecoin fall to an early morning intraday low $40.40 before making a move.

Steering clear of the first major support level at $39.12, Litecoin rallied to a late afternoon intraday high $42.04.

Falling well short of the first major resistance level at $43.01, Litecoin eased back to $41 levels.

At the time of writing, Litecoin was flat at $41.32. A mixed start to the day saw Litecoin fall to an early morning low $41.15 before rising to a high $41.48.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall through the $41.25 pivot to support a run at the first major resistance level at $42.11.

Support from the broader market would be needed, however, for Litecoin to break back through to $42 levels.

Barring another crypto rally, the first major resistance level and Sunday’s high $42.04 would likely cap any upside.

Failure to avoid a fall through the $41.25 pivot could see Litecoin struggle on the day.

A fall back through to sub-$41 levels would bring the first major support level at $40.47 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of the second major support level at $39.61.

Looking at the Technical Indicators

Major Support Level: $40.47

Major Resistance Level: $42.11

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 2.39% on Sunday. Partially reversing a 5.73% slide from Saturday, Stellar’s Lumen ended the week down by 7.25% to $0.064041.

Tracking the broader market, Stellar’s Lumen fell to an early morning intraday low $0.061872 before finding support.

Steering clear of the first major support level at $0.05883, Stellar’s Lumen rallied to a late afternoon intraday high $0.06506.

Falling short of the first major resistance level at $0.06712, Stellar’s Lumen fell back to sub-$0.065 levels.

At the time of writing, Stellar’s Lumen was up by 1.40% to $0.06494. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.064337 to a high $0.064940.

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 $0.06370 pivot to support a run at the first major resistance level at $0.06544.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.06506.

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

Failure to avoid a fall through the $0.06370 pivot could see Stellar’s Lumen struggle later in the day.

A fall back through to sub-$0.064 levels would bring the first major support level at $0.06226 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.060 levels. The second major support level at $0.06047 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.06226

Major Resistance Level: $0.06544

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 rose by 1.94% on Sunday. Reversing a 1.97% loss from Saturday, Tron’s TRX ended the week down by 0.78% to $0.015729.

A bearish start to the day saw Tron’s TRX fall to an early intraday low $0.015326 before making a move.

Steering clear of the first major support level at $0.01494, Tron’s TRX rallied to a late intraday high $0.015961.

Falling short of the first major resistance level at $0.01604, Tron’s TRX fell back to $0.01570 levels late in the day.

At the time of writing, Tron’s TRX was up by 0.95% to $0.015878. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.015786 to a high $0.016053.

Tron’s TRX tested the first major resistance level at $0.01602 early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01570 pivot to support another run at the first major resistance level at $0.01602.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.016 levels.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.

Failure to avoid a fall through the $0.01570 pivot would bring the first major support level at $0.01538 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.015 levels. The second major support level at $0.01504 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01538

Major Resistance Level: $0.01602

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

This article was originally posted on FX Empire

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