Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 13/05/20
Litecoin
Litecoin rose by 1.83% on Tuesday. Reversing a 1.38% fall from Monday, Litecoin ended the day at $42.26.
A bullish morning saw Litecoin rally to an early afternoon intraday high $42.87 before hitting reverse.
Falling short of the first major resistance level at $43.33, Litecoin slid to a late intraday low $41.31.
Steering clear of the first major support level at $39.53, Litecoin recovered to $42 levels to wrap up the day in the green.
At the time of writing, Litecoin was up by 0.09% to $42.30. A bullish start to the day saw Litecoin rise from an early morning low $41.99 to a high $42.44.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through to $42.50 levels to support a run at the first major resistance level at $42.98.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $42.87.
Barring an extended crypto rally, the first major resistance level, and Tuesday’s high would likely limit any upside.
Failure to move through to $42.50 levels could see Litecoin struggle later in the day.
A fall through to sub-$42.15 levels would bring the first major support level at $41.42 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear the second major support level at $40.59.
Looking at the Technical Indicators
Major Support Level: $41.42
Major Resistance Level: $42.98
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 12.16% on Tuesday. Reversing a 3.56% slide from Monday, Stellar’s Lumen ended the day at $0.069986.
A bullish day saw Stellar’s Lumen rally from an early intraday low $0.062399 to a late afternoon intraday high $0.070164.
Stellar’s Lumen broke through the first major resistance level at $0.06502 and the second major resistance level at $0.06741.
A late pullback saw Stellar’s Lumen fall to $0.06750 levels before wrapping up the day at $0.069 levels.
The second major resistance level at $0.06741 limited the downside late in the day.
At the time of writing, Stellar’s Lumen was 0.28% to $0.070181. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.070500 before falling to a low $0.069633.
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 $0.07100 levels to bring the first major resistance level at $0.07274 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.070500.
Barring an extended crypto rally, resistance at $0.071 would likely leave Stellar’s Lumen short of the first major resistance level.
Failure to move through to $0.07100 levels could see Stellar’s Lumen hit reverse.
A fall through to sub-$0.06760 levels would bring the first major support level at $0.06482 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.060 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.064820
Major Resistance Level: $0.072740
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 3.23% on Tuesday. Reversing a 2.02% decline from Monday, Tron’s TRX ended the day at $0.014547.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.013995 before making a move.
Steering clear of the first major support level at $0.01330, Tron’s TRX rallied to a late morning intraday high $0.014963.
Tron’s TRX broke through the first major resistance level at $0.01457 before sliding back to $0.01420 levels.
Finding late support from the broader market, however, Tron’s TRX moved back through to $0.0144 levels.
At the time of writing, Tron’s TRX was up by 1.63% to $0.014784. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.014593 to a high $0.014784.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to avoid sub-$0.01450 levels to support a run at the first major resistance level at $0.01501.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the Tuesday’s high $0.014963.
Barring an extended crypto rebound, the first major resistance level and Tuesday’s high $0.014963 would likely limit any upside.
Failure to move through to avoid sub-$0.01450 levels could see Tron’s TRX fall back into the red.
A fall through the morning low to sub-$0.01450 levels would bring the first major support level at $0.01404 into play.
Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.01353.
Looking at the Technical Indicators
Major Support Level: $0.01404
Major Resistance Level: $0.01501
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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