Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 15/01/20
Litecoin
Litecoin surged by 17.81% on Tuesday. Reversing a 3.56% slide from Monday, Litecoin ended the day at $58.40.
A particularly bullish day saw Litecoin rally from an early morning intraday low $49.56 to a late intraday high $60.80.
Steering clear of the major support levels, Litecoin broke through the major resistance levels to hit $60 for the 1st time since November.
In spite of a late pullback to sub-$60, Litecoin held above the third major resistance level at $55.58.
At the time of writing, Litecoin down by 2.35% to $57.03. A bearish start to the day saw Litecoin fall from an early morning high $60.25 to a low $56.62.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to break back through to $60 levels to support a run at the first major resistance at $62.95 and 23.6% FIB of $62.
Support from the broader market would be needed for Litecoin to break out from Tuesday’s high $60.80.
Barring an extended crypto rally, however, resistance at $60 would likely continue to limit any upside.
Failure to move back through to $60 levels could see Litecoin fall deeper into the red.
A fall back through to sub-$56.3 levels would bring the first major support level at $51.71 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$50 levels on the day.
Looking at the Technical Indicators
Major Support Level: $51.71
Major Resistance Level: $62.95
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 9.03% on Tuesday. Reversing a 1.89% fall from Monday, Stellar’s Lumen ended the day at $0.052501.
Bullish through the day, Stellar’s Lumen rallied from an early morning intraday low $0.048106 to a late intraday high $0.054871.
Steering clear of the major support levels, Stellar’s Lumen broke through the major resistance levels of the day.
In spite of a late pullback to $0.051 levels, Stellar’s Lumen held above the third major resistance level at $0.05094.
At the time of writing, Stellar’s Lumen was up by 0.53% to $0.052781. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.051841 before striking a high $0.054682.
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 to $0.054 levels to support a run at the first major resistance level at $0.05555.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.054682.
Barring an extended crypto rally, resistance at $0.054 would likely limit any upside on the day.
Failure to move back through to $0.054 levels could see Stellar’s Lumen hit reverse.
A fall to sub-$0.05180 levels would bring the first major support level at $0.04878 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of sub-$0.0500 levels.
Looking at the Technical Indicators
Major Support Level: $0.04878
Major Resistance Level: $0.05555
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 13.38% on Tuesday. Reversing a 2.18% fall from Monday, Tron’s TRX ended the day at $0.016686.
Bullish through the day, Tron’s TRX rallied from an early morning intraday low $0.014717 to a late intraday high $0.017081.
Steering clear of the major support levels, Tron’s TRX broke through the day’s major resistance levels.
While easing back to sub-$0.017 levels late on, Tron’s TRX held above the third major resistance level at $0.01567.
At the time of writing, Tron’s TRX was down by 1.06% to $0.016509. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.01750 before sliding to a low $0.016401.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to break back through to $0.017 levels to bring the first major resistance level at $0.01761 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.017 levels.
Barring a broad-based crypto rebound, the first major resistance level and Tuesday’s high $0.017081 would likely cap any upside.
Failure to move back through to $0.017 levels could see Tron’s TRX give up more of Tuesday’s gains.
A fall through to sub-$0.01620 levels would bring the first major support level at $0.01524 into play.
Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.014 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.01524
Major Resistance Level: $0.01761
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