For the day ahead
Stellar’s Lumen would need to move through to $0.04680 levels to support a run at the first major resistance level at $0.04754.
Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from the morning high $0.046000.
Barring a broad-based crypto rebound, resistance at $0.046 would likely leave Stellar’s Lumen short of the first major resistance level.
Failure to move through to $0.04680 levels could see Stellar’s Lumen struggle throughout the day.
A fall back through the first major support level at $0.04546 would bring the second major support level at $0.04474 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.044 support levels.
Looking at the Technical Indicators
Major Support Level: $0.04546
Major Resistance Level: $0.04754
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 by 1.18% on Wednesday. Following on from a 0.75% decline on Tuesday, Tron’s TRX ended the day at $0.012236.
A mixed start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.012601 before hitting reverse.
Falling short of the first major resistance level at $0.1271, Tron’s TRX slid to a final hour intraday low $0.012153
Tron’s TRX fell through the first major support level at $0.01234 to find support at the second major support level at $0.01220.
A late move back through the second major support level limited the downside on the day.
At the time of writing, Tron’s TRX was down by 2.07% to $0.011983. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.01220 to a low $0.011842.
Steering clear of the major resistance levels, Tron’s TRX fell through the first major support level at $0.01206 and the second major support level at $0.01188.
