Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/02/20
Litecoin
Litecoin slid by 5.31% on Monday. Partially reversing a 6.58% rally from Sunday, Litecoin ended the day at $75.55.
Bearish through the day, Litecoin slid from an early morning intraday high $80.04 to a late afternoon intraday low $71.80.
Litecoin fell through the first major support level at $76.08 and the second major support level at $72.37.
Of greater significance, however, was a fall through the 38.2% FIB of $78.
Finding support late on, Litecoin broke back through the second major support level to wrap up the day at $75.55.
At the time of writing, Litecoin was down by 2.63% to $73.56. A bearish start to the day saw Litecoin fall from an early morning high $76.12 to a low $73.26.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through to $75.80 levels to support a run the first major resistance level at $79.79.
Support from the broader market would be needed, however, for Litecoin to breakout from the 38.2% FIB of $78.
Barring a broad-based crypto rally, the 38.2% FIB would likely leave Litecoin short of the first major resistance level.
Failure to move through to $75.80 levels could see Litecoin fall deeper into the red.
A fall back through the morning low $73.26 would bring the first major support level at $71.55 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$70 levels on the day.
Looking at the Technical Indicators
Major Support Level: $71.55
Major Resistance Level: $79.79
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen slid by 5.82% on Monday. Reversing a 4.42% gain from Sunday, Stellar’s Lumen ended the day at $0.069148.
Tracking the broader market, Stellar’s Lumen slid from an early morning intraday high $0.073827 to a late intraday low $0.067507.
Stellar’s Lumen fell through the first major support level at $0.07093 and the second major support level at $0.068450.
Finding support late on, Stellar’s Lumen moved back through the second major support level to wrap up the day at $0.069 levels.
At the time of writing, Stellar’s Lumen was down by 2.37% to $0.067509. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.069264 to a low $0.067509.
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 to $0.07020 levels to support a run at the first major resistance level at $0.07281.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069264.
Barring a broad-based crypto rebound, resistance at $0.070 would likely leave Stellar’s Lumen short of the first major resistance level.
Failure to move through to $0.07020 levels could see Stellar’s Lumen struggle later in the day.
A fall back through Monday’s low $0.067507 would bring the first major support level at $0.06649 into play.
Barring another crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.0660 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.06649
Major Resistance Level: $0.07281
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 slid by 6.94% on Monday. Reversing a 6.54% rally from Sunday, Tron’s TRX ended the day at $0.019875.
A bearish start to the day saw Tron’s TRX slide from an early morning intraday high $0.021398 to a late afternoon intraday low $0.019200.
Tron’s TRX fell through the first major support level at $0.02053 and the second major support level at $0.01961.
Steering clear of sub-$0.019 support levels, Tron’s TRX broke back through the second major support level late on.
At the time of writing, Tron’s TRX was down by 0.73% to $0.019729. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.019921 to a low $0.019552.
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 to $0.02020 levels to support a run at the first major resistance level at $0.02112.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019921.
Barring an extended crypto rally, resistance at $0.020 would likely leave Tron’s TRX short of the first major resistance level.
Failure to move through to $0.02020 levels could see Tron’s TRX slide deeper into the red.
A fall back through the morning low $0.019552 would bring the first major support level at $0.01892 into play.
Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.019 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.01892
Major Resistance Level: $0.02112
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
This article was originally posted on FX Empire
