Litecoin
Litecoin rallied by 3.79% on Wednesday. Reversing a 1.61% decline from Tuesday, Litecoin ended the day at $43.87.
It was a bullish start to the day. Litecoin rallied from an early morning intraday low $42.23 to a late afternoon intraday high $43.98.
Litecoin broke through the first major resistance level at $42.98 and the second major resistance level at $43.66 before pulling back.
A late pullback saw Litecoin fall back through the second major resistance level to sub-$43.30 levels before finding late support.
A final hour rally saw Litecoin break back through the second major resistance level to wrap up the day at $43.8 levels.
At the time of writing, Litecoin was down by 0.41% to $43.69. A bearish start to the day saw Litecoin fall from an early morning high $43.86 to a low $43.65.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid sub-$43.40 levels to bring the first major resistance level at $44.49 into play.
Support from the broader market would be needed, however, for Litecoin to breakout from Wednesday’s high $43.98.
Barring an extended crypto rally, Wednesday’s high would likely leave Litecoin short of the first major resistance level and.
Failure to avoid sub-$43.40 levels could see Litecoin fall deeper into the red.
A fall back through the morning low to sub-$43.40 would bring the first major support level at $42.74 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$42 and the second major support level at $41.61.
Looking at the Technical Indicators
Major Support Level: $42.74
Major Resistance Level: $44.49
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rose by 1.59% on Wednesday. Partially reversing a 1.76% fall from Tuesday, Stellar’s Lumen ended the day at $0.066041.
It was a bullish start to the day. Stellar’s Lumen rallied from an early morning intraday low $0.064520 to a late morning intraday high $0.067666 before hitting reverse.
Stellar’s Lumen broke through the first major resistance level at $0.06619 and the second major resistance level at $0.06749.
The reversal saw Stellar’s Lumen slide back through the major resistance levels before finding late support to wrap up the day at $0.066 levels.
At the time of writing, Stellar’s Lumen was up by just 0.01% to $0.066050. There were no major movements within the 1st hour of the day.
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 $0.06610 levels to bring the first major resistance level at $0.06763 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.067 levels.
Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $0.067666 would likely limit any upside.
Failure to move back through to $0.06610 levels could see Stellar’s Lumen hit reverse.
A fall through to sub-$0.065 levels would bring the first major support level at $0.06449 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06293.
Looking at the Technical Indicators
Major Support Level: $0.06449
Major Resistance Level: $0.06763
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 0.58% on Wednesday. Partially reversing a 0.74% decline from Tuesday, Tron’s TRX ended the day at $0.014710.
It was a bullish start to the day. Tron’s TRX rallied from an early morning low $0.014529 to a late morning intraday high $0.015041 before hitting reverse.
Tron’s TRX broke through the first major resistance level at $0.01479 and the second major resistance level at $0.01498.
The reversal saw Tron’s TRX slide through the major resistance levels to a late intraday low $0.014502 into the red.
Late in the day, however, Tron’s TRX moved back through to $0.01470 levels to end the day in the green.
In spite of the late pullback, Tron’s TRX steered clear of the first major support level at $0.01432.
At the time of writing, Tron’s TRX was down by 0.11% to $0.014694. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.014725 before falling to a low $0.014694.
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 $0.01480 levels to support a run at the first major resistance level at $0.01499.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014725.
Barring a broad-based crypto rebound, the first major resistance level and Wednesday’s high $0.015041 would likely limit any upside.
Failure to move through to $0.01480 levels could see Tron’s TRX fall deeper into the red.
A fall through Wednesday’s low $0.014521 would bring the first major support level at $0.01447 into play.
Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.014 levels. The second major support level at $0.01424 would likely limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.01447
Major Resistance Level: $0.01499
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
This article was originally posted on FX Empire