Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 15/04/20

Litecoin

Litecoin fell by 0.36% on Tuesday. Following on from a 1.50% decline on Monday, Litecoin ended the day at $41.22.

A mixed start to the day saw Litecoin fall from an early morning high $41.86 to a late morning intraday low $40.52.

Steering clear of the first major support level at $39.91, Litecoin rallied to a late afternoon intraday high $41.96.

Falling short of the first major resistance level at $42.41, Litecoin eased back to sub-$41.30 levels and into the red.

At the time of writing, Litecoin was up by 0.63% to $41.48. A mixed start to the day saw Litecoin fall to an early morning low $40.56 before striking a high $41.80.

Steering clear of the major resistance levels, Litecoin tested the first major support level at $40.51 early on.

For the day ahead

Litecoin would need to avoid sub-$41.25 levels to support another run the first major resistance level at $41.95.

Support from the broader market would be needed, however, for Litecoin to breakout out from the morning high $41.80.

Barring an extended crypto rally, the first major resistance and Tuesday’s high $41.96 would likely cap any upside.

Failure to avoid sub-$41.25 levels could see Litecoin struggle later in the day.

A fall back through to sub-$41 levels would bring the first major support level at $40.51 into play.

Barring an extended crypto sell-off, however, Litecoin should avoid a return to sub-$40 support levels.

Looking at the Technical Indicators

Major Support Level: $40.51

Major Resistance Level: $41.95

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slipped by 0.16% on Tuesday. Following on from a 0.59% fall on Monday, Stellar’s Lumen ended the day at $0.048345.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.048798 before hitting reverse.

Falling short of the first major resistance level at $0.04965, Stellar’s Lumen fell to a noon intraday low $0.047702.

Steering clear of the first major support level at $0.04613, Stellar’s Lumen bounced back to $0.04860 levels before easing back into the red.

At the time of writing, Stellar’s Lumen was down by 0.40% to $0.048152. A bearish start to the day saw Stellar’s Lumen fall to an early morning low $0.047559 before striking a high $0.048152.

Stellar’s Lumen fell through the first major support level at $0.04777 early on.

For the day ahead

Stellar’s Lumen would need to move back through to $0.04830 levels to support a run at the first major resistance level at $0.04886.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from Tuesday’s high $0.48798.

Barring an extended crypto rally, the first major resistance level. $0.04886 should limit any upside on the day.

Failure to move through to $0.04830 levels could see Stellar’s Lumen struggle throughout the day.

A fall back through the first major support level at $0.04777 would bring the second major support level at $0.04719 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.047 support levels.

Looking at the Technical Indicators

Major Support Level: $0.04777

Major Resistance Level: $0.04886

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 fell 0.75% on Tuesday. Following on from a 0.11% decline on Monday, Tron’s TRX ended the day at $0.012484.

A bearish start to the day saw Tron’s TRX slide to a late morning intraday low $0.012429 before finding support.

Steering clear of the first major support level at $0.012220, Tron’s TRX rallied to an early afternoon intraday high $0.012800.

Tron’s TRX came within range of the first major resistance level at $0.012860 before sliding back into the red.

At the time of writing, Tron’s TRX was up by 0.76% to $0.012579. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.012336 before striking a high $0.012579.

Tron’s TRX fell through the first major support level at $0.01234 early on.

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.01257 levels to support a run at the first major resistance level at $0.01271.

Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.01260 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.0128 would likely limit any upside.

Failure to avoid sub-$0.01257 levels could see Tron’s TRX see red for a 3^rd consecutive day.

A fall back through the first major support level at $0.01234 levels would bring the second major support level at $0.01220 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.012 levels.

Looking at the Technical Indicators

Major Support Level: $0.01234

Major Resistance Level: $0.01271

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

More From FXEMPIRE:

• US Stock Market Overview – Stocks Rally Led by New Economy Shares; Banks Earnings Slump

• Gold Buyers are Waiting at W H3 Pivot

• Gold Uptrend Continues with Fresh Highs Facing $1750

• Gold Price Futures (GC) Technical Analysis – Closing Price Reversal Top, First Sign of Weak Buying

• Crude Oil Price Update – Next Major Move Determined by Trader Reaction to $27.40 – $26.04 Retracement Zone

• Downside Opportunities Everywhere – Watch These Symbols