Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 30/03/20

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Litecoin

Litecoin slid by 4.68% on Sunday. Reversing a 1.94% gain from Saturday, Litecoin ended the week up by 4.71% to $37.11.

It was a bearish end to the week. Litecoin slid from an early morning intraday high $39.19 to a late intraday low $37.01.

Falling short of the major resistance levels, Litecoin fell through the first major support level at $37.15.

While finding support late in the day, the first major support level pinned Litecoin back.

At the time of writing, Litecoin was up by 2.78% to $38.14. A bullish start to the day saw Litecoin rise from an early morning low $37.10 to a high $38.28.

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

For the day ahead

Litecoin would need to avoid sub-$37.80 levels to support another run the first major resistance level at $38.53.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $38.28.

Barring an extended crypto rally, the first major resistance at $38.53 would likely pin Litecoin back from $39 levels.

Failure to avoid sub-$37.80 levels could see Litecoin hit reverse.

A fall back through the morning low $37.10 would bring the first major support level at $36.35 into play.

Barring a crypto sell-off, however, Litecoin should steer clear of the second major support level at $35.59.

Looking at the Technical Indicators

Major Support Level: $36.35

Major Resistance Level: $38.53

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 5.62% on Sunday. Following on from a 0.52% decline on Saturday, Stellar’s Lumen end the week up by 3.67% to $0.037807.

Tracking the broader market, Stellar’s Lumen slid from an early morning intraday high $0.040059 to a late intraday low $0.037333.

Stellar’s Lumen fell through the first major support level at $0.03889 and the second major support level at $0.03762.

Finding late support, Stellar’s Lumen broke back through the second major support level to limit the loss on the day.

At the time of writing, Stellar’s Lumen was up by 4.68% to $0.039576. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.037837 to a high $0.039576.

Stellar’s Lumen broke through the first major resistance level at $0.03947 early on.

For the day ahead

Stellar’s Lumen would need to hold above the first major resistance level to support a run at the second major resistance level to $0.04113.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.040059.

Barring an extended crypto rally, resistance at $0.0400 would likely limit any upside.

Failure to move hold above the first major resistance level could see Stellar’s Lumen give up the morning gains.

A fall back through to sub-$0.03840 levels would bring the first major support level at $0.03674 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.036 support levels.

Looking at the Technical Indicators

Major Support Level: $0.03674

Major Resistance Level: $0.03947

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 slid by 6.08% on Sunday. Reversing a 2.81% gain from Saturday, Tron’s TRX ended the week up by 4.22% to $0.01071.

Bearish throughout the day, Tron’s TRX slid from an early morning intraday high $0.011403 to a late intraday low $0.010695.

Tron’s TRX fell through the first major support level at $0.01098 before finding support. In spite of the late support, however, Tron’s TRX failed to break back through to $0.011 levels.

At the time of writing, Tron’s TRX was up by 3.9% to $0.011128. A bullish start to the day saw Tron’s TRX rally from an early morning low $0.010672 to a high $0.011166.

Steering clear of the major support levels, Tron’s TRX came up against the first major resistance level at $0.01118.

 

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.011 levels to support another run at the first major resistance level at $0.011180.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.011166.

Barring an extended crypto rally, the first major resistance at $0.01118 would likely cap any upside.

Failure to avoid sub-$0.011 levels could see Tron’s TRX struggle later in the day.

A fall through to sub-$0.01095 levels would bring the first major support level at $0.01047 into play.

Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.01023.

Looking at the Technical Indicators

Major Support Level: $0.01047

Major Resistance Level: $0.01118

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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