Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 14/04/20

Litecoin

Litecoin fell by 1.50% on Monday. Following on from a 1.31% decline on Sunday, Litecoin ended the day at $41.37.

A bearish start to the day saw Litecoin tumble from an intraday high $42.00 to an early morning intraday low $39.50.

Litecoin fell through the first major support level at $41.38 and the second major support level at $40.71.

Finding support throughout the day, Litecoin recovered to an afternoon high $41.68 before sliding back.

A final hour pullback saw Litecoin fall back through the first major support level at $41.38.

At the time of writing, Litecoin was down by 0.10% to $41.33. A mixed start to the day saw Litecoin rise to an early morning high $41.58 before falling to a low $41.10.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through to $42 levels to support a run the first major resistance level at $42.41.

Support from the broader market would be needed, however, for Litecoin to breakout out from the morning high $41.58.

Barring a broad-based crypto rebound, resistance at $42 would likely leave Litecoin short of the first major resistance at $42.41.

Failure to move back through to $42 levels could see Litecoin struggle throughout the day.

A fall back through to sub-$41 levels would bring the first major support level at $39.91 into play.

Barring an extended crypto sell-off, however, Litecoin should avoid a return to sub-$39 support levels.

Looking at the Technical Indicators

Major Support Level: $39.91

Major Resistance Level: $42.41

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 0.59% on Monday. Following on from a 1.18% decline on Sunday, Stellar’s Lumen ended the day at $0.48379.

A bearish start to the day saw Stellar’s Lumen slide to an early morning intraday low $0.045158 before making a move.

Stellar’s Lumen fell through the first major support level at $0.04807 and the second major support level at $0.04690.

Steering clear of sub-$0.045 levels, Stellar’s Lumen rallied to a late intraday high $0.048676 before easing back.

In spite of the rebound, Stellar’s Lumen came up well short of the first major resistance level at $0.05095.

At the time of writing, Stellar’s Lumen was down by 0.39% to $0.048188. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.048491 before falling to a low $0.048188.

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 $0.049 levels to support a run at the first major resistance level at $0.04965.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from Monday’s high $0.48676.

Barring a broad-based crypto rebound, resistance at $0.049 would likely leave Stellar’s Lumen short of the first major resistance level. $0.04965.

Failure to move through to $0.049 levels could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.04740 levels would bring the first major support level at $0.04613 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.045 levels.

Looking at the Technical Indicators

Major Support Level: $0.04613

Major Resistance Level: $0.04965

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 0.11% on Monday. Partially reversing a 1.44% gain from Sunday, Tron’s TRX ended the day at $0.012634.

A bearish start to the day saw Tron’s TRX slide to an early morning intraday low $0.012029 before finding support.

Tron’s TRX fell through the first major support level at $0.012320 before striking a late intraday high $0.012663.

Falling well short of the first major resistance level at $0.01322, Tron’s TRX slid back to sub-$0.01265 levels and into the red.

At the time of writing, Tron’s TRX was down by 0.12% to $0.012619. A mixed start to the day saw Tron’s TRX rise from an early morning low $0.012578 to a high $0.012635 before easing back.

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 $0.01270 levels to support a run at the first major resistance level at $0.01286.

Support from the broader market would be needed, however, for Tron’s TRX to breakout from Monday’s high $0.012663.

Barring a broad-based crypto rebound, the first major resistance level would likely leave Tron’s TRX short of $0.013 levels.

Failure to move back through to $0.01270 levels could see Tron’s TRX spend the day in the red.

A fall through to sub-$0.01244 levels would bring the first major support level at $0.01222 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01181.

Looking at the Technical Indicators

Major Support Level: $0.01222

Major Resistance Level: $0.01286

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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