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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 24/03/20

Bob Mason

Litecoin

Litecoin rallied by 10.38% on Monday. Reversing a 7.66% slide from Sunday, Litecoin ended the day at $39.12.

A mixed start to the day saw Litecoin fall to an early morning intraday low $34.51 before making a move.

Steering clear of the first major support level at $33.63, Litecoin rallied to an early afternoon intraday high $40.14.

Litecoin broke through the first major resistance level at $38.49 before falling back to $37 levels.

Finding support from the broader market, however, Litecoin broke back through the first major resistance level to wrap up the day at $39 levels.

At the time of writing, Litecoin was down by 1.05% to $38.71. A mixed start to the day saw Litecoin strike an early morning high $39.94 before falling to a low $38.39.

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

For the day ahead

Litecoin would need to move through the morning high $39.94 to support another run the first major resistance level at $41.34.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $40.14.

Barring an extended crypto rally, resistance at $40 would likely leave Litecoin short of the first major resistance at $41.34.

Failure to move through the morning high $39.94 could see Litecoin fall deeper into the red.

A fall back through the morning low $38.39 to sub-$38 levels would bring the first major support level at $35.71 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $32.29.

Looking at the Technical Indicators

Major Support Level: $35.71

Major Resistance Level: $41.34

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 8.24% on Monday. Reversing a 7.94% slide from Sunday, Stellar’s Lumen ended the day at $0.039475

A choppy start saw Stellar’s Lumen fall to a late morning intraday low $0.036461 before making a move.

Steering clear of the first major support level at $0.03539, Stellar’s Lumen rallied to an early afternoon intraday high $0.039926.

Stellar’s Lumen broke through the first major resistance level at $0.03940 before falling back to $0.038 levels.

Finding late support, Stellar’s Lumen broke back through the first major resistance level to wrap up the day at $0.039475.

At the time of writing, Stellar’s Lumen was down by 0.24% to $0.039381. It was a mixed start to the day. Stellar’s Lumen rose to an early morning high $0.039950 before falling to a low $0.039381

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

For the day ahead

Stellar’s Lumen would need to move back through the morning high $0.039950 to support a run at the first major resistance level to $0.040790.

Support from the broader market would be needed, however, for Stellar’s Lumen to break through to $0.040 levels.

Barring an extended crypto rally, resistance at $0.040 would leave Stellar’s Lumen short of the first major resistance level.

Failure to move through the morning high $0.039950 could see Stellar’s Lumen hit reverse

A fall back through the morning low to sub-$0.03860 levels would bring the first major support level at $0.03729 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.038 support levels.

Looking at the Technical Indicators

Major Support Level: $0.03729

Major Resistance Level: $0.04079

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 rallied by 10.63% on Monday. Reversing an 8.39% slide from Sunday, Tron’s TRX ended the day at $0.011368.

A mixed start saw Tron’s TRX fall to an early morning intraday low $0.01009 before making a move.

Steering clear of the first major support level at $0.00978, Tron’s TRX rallied to an early afternoon intraday high $0.011552.

Tron’s TRX broke through the first major resistance level at $0.01119 before sliding back to sub-$0.011 levels.

Finding support from the broader market, however, Tron’s TRX broke back through the first major resistance level to wrap up the day at $0.0113 levels.

At the time of writing, Tron’s TRX was down by 0.01% to $0.011367. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.011354 before striking a high $0.011549.

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 morning high $0.011549 to support a run at the first major resistance level at $0.01192.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.011552.

Barring an extended crypto rally, the first major resistance at $0.01192 would likely cap any upside.

Failure to move through the morning high $0.011549 could see Tron’s TRX struggle later in the day.

A fall through to sub-$0.011 levels would bring the first major support level at $0.01045 into play.

Barring another crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.010 support levels.

Looking at the Technical Indicators

Major Support Level: $0.01045

Major Resistance Level: $0.01192

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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