Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 24/12/19

Litecoin

Litecoin fell by 3.13% on Monday. Partially reversing a 5.54% rally from Sunday, Litecoin ended the day at $40.61.

Tracking the broader market, Litecoin rose to an early morning high $42.57 before sliding to a mid-morning low $41.66.

Leaving the major support and resistance levels untested early on, Litecoin rallied to a mid-afternoon intraday high $42.69.

Falling short of the first major resistance level at $42.90, Litecoin slid to a late intraday low $40.23.

The sell-off saw Litecoin fall through the first major support level at $40.32 before moving back through to $40.60 levels.

At the time of writing, Litecoin was down by 0.32% to $40.48. A range-bound start to the day saw Litecoin rise to an early morning high $40.68 before falling to a low $40.36.

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

For the day ahead

Litecoin would need to move through to $41.20 levels to support a run at the first major resistance level at $42.12.

Support from the broader market would be needed, for Litecoin to break through to $41.0 levels.

Barring an extended crypto rally, however, resistance at $42 would likely cap any upside on the day.

Failure to move through to $41.20 levels could see Litecoin slide deeper into the red.

A fall back through the morning low $40.36 would bring the first major support level at $39.66 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$39 levels and the second major support level at $38.72.

Looking at the Technical Indicators

Major Support Level: $39.66

Major Resistance Level: $42.12

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 5.32% on Monday. Reversing a 3.99% gain from Sunday, Stellar’s Lumen ended the day at $0.044975.

A bullish start to the day saw Stellar’s Lumen strike an early morning intraday high $0.047655 before hitting reverse.

Falling short of the first major resistance level at $0.04796, Stellar’s Lumen slid to a late intraday low $0.044722.

Stellar’s Lumen fell through the first major support level at $0.04612 and the second major support level at $0.04490.

Finding support late on, Stellar’s Lumen managed to move back through the second major support level.

At the time of writing, Stellar’s Lumen was up by 0.07% to $0.045005. Range-bound early on, Stellar’s Lumen rose from an early morning low $0.044960 to a high $0.045020.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to move through to $0.4578 levels to support a run at the first major resistance level at $0.04685.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.045 levels.

Barring a broad-based crypto rally, however, the resistance at $0.046 levels would likely pin Stellar’s Lumen back from Monday’s high $0.047655.

Failure to move through to $0.04578 levels could see Stellar’s Lumen slide back into the red.

A fall through the morning low $0.04496 would bring the first major support level at $0.04391 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.043 levels.

Looking at the Technical Indicators

Major Support Level: $0.04391

Major Resistance Level: $0.04685

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 tumbled by 8.63% on Monday. Partially reversing a 9.9% rally from Sunday, Tron’s TRX ended the day at $0.01370

A bullish start to the day saw Tron’s TRX strike an early morning intraday high $0.01600 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.01543 and the second major resistance level at $0.01594.

Bearish through the rest of the day, Tron’s TRX tumbled to a late intraday low $0.01370.

The reversal saw Tron’s TRX fall through the first major support level at $0.01399.

At the time of writing, Tron’s TRX was down by 0.1% to $0.013686. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.013825 to a low $0.013430.

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 $0.01447 levels to support a move through the first major resistance level at $0.01523.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.014 levels.

Barring an extended crypto rally, the first major resistance level would likely limit any upside later in the day.

Failure to move through to $0.01447 levels could see Tron’s TRX fall deeper into the red.

A fall back through the morning low $0.013430 would bring the first major support level at $0.01293 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.013 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01293

Major Resistance Level: $0.01523

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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