Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 31/12/19

Litecoin

Litecoin fell by 1.88% on Monday. Reversing a 0.87% gain on Sunday, Litecoin ended the day at $42.23.

A bullish start to the day saw Litecoin rally to a mid-morning intraday high $44.02 before hitting reverse.

Litecoin broke through the first major resistance level at $43.85 before sliding to a mid-afternoon intraday low $41.72.

The reversal saw Litecoin fall through the first major support level at $42.18 before recovering to $42 levels.

At the time of writing, Litecoin was down by 0.33% to $42.09. A mixed start to the day saw Litecoin rise from an early morning low $41.99 to a high $42.56.

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

For the day ahead

Litecoin would need to move back through to $42.70 levels to support a run at the first major resistance level at $43.59.

Support from the broader market would be needed for Litecoin to break back through to $43 levels.

Barring a crypto rebound, however, the first major resistance level would likely cap any upside.

Failure to move through the $42.70 could see Litecoin fall deeper into the red.

A fall back through the morning low $41.99 would bring the first major support level at $41.29 into play.

Barring an extended sell-off, however, Litecoin should steer clear the second major support level at $40.36.

Looking at the Technical Indicators

Major Support Level: $41.29

Major Resistance Level: $43.59

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 1.09% on Monday. Reversing a 1.21% gain from Sunday, Stellar’s Lumen ended the day at $0.04575.

A bullish start to the day saw Stellar’s Lumen rally to a late morning intraday high $0.046999.

Stellar’s Lumen came up against the first major resistance level at $0.04700 before sliding to a late afternoon intraday low $0.04555.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.04593 before recovering to $0.046 levels.

A late pullback saw Stellar’s Lumen slide back through the first major support level ahead of the day end.

At the time of writing, Stellar’s Lumen was down by 0.30% to $0.045612. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.045554 before striking a high $0.045884.

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 $0.4610 levels to support a run at the first major resistance level at $0.04665.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.045884.

Barring a broad-based crypto rally, the first major resistance level at $0.04665 would likely pin Stellar’s Lumen back on the day.

Failure to move through to $0.04610 levels could see Stellar’s Lumen slide deeper into the red.

A fall through the morning low $0.045554 would bring the first major support level at $0.04520 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear the second major support level at $0.04465.

Looking at the Technical Indicators

Major Support Level: $0.04520

Major Resistance Level: $0.04665

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 2.53% on Monday. Reversing a 2.63% rally from Sunday, Tron’s TRX ended the day at $0.013353.

Tracking the broader market, Tron’s TRX rallied to an early morning intraday high $0.013838 before hitting reverse.

Falling short of the first major resistance level at $0.01400, Tron’s TRX slid to a late afternoon intraday low $0.013178.

The reversal saw Tron’s TRX fall through the first major support level at $0.01351 and the second major support level at $0.01321.

Finding support late on, Tron’s TRX recovered to $0.0133 levels to limit the downside on the day.

At the time of writing, Tron’s TRX was down by 0.19% to $0.013328. A mixed start to the day saw Tron’s TRX rise from an early morning low $0.013270 to a high $0.013348.

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 $0.01350 levels to support a run at the first major resistance level at $0.013730.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.013348.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.013838 would likely pin Tron’s TRX back on the day.

Failure to move back through to $0.01350 levels could see Tron’s TRX struggle throughout the day.

A fall back through the morning low $0.013270 would bring the first major support level at $0.01307 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01280.

Looking at the Technical Indicators

Major Support Level: $0.01307

Major Resistance Level: $0.01373

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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