Litecoin Stellars Lumen and Trons TRX Daily Analysis 26/12/19
Litecoin fell by 0.62% on Wednesday. Following on from a 0.59% decline on Tuesday, Litecoin ended the day at $40.08.
A bearish start to the day saw Litecoin fall from an early morning high $40.38 to a late morning intraday low $39.36.
Steering clear of the major resistance levels, Litecoin fell through the first major support level at $39.50 before striking a mid-day intraday high $40.39.
Through the 2ndhalf of the day, Litecoin found support at the first major support level for a 2ndtime before recovering to $40 levels to limit the loss on the day.
At the time of writing, Litecoin was down by 0.6% to $39.84. A bearish start to the day saw Litecoin fall from an early morning high $40.13 to a low $39.76.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $40.00 levels to support a run at the first major resistance level at $40.53.
Litecoin would need the support of the broader market to break out from the morning high $40.13.
Barring a crypto rally, however, the first major resistance at $40.53 and Wednesdays high $40.39 would likely cap any upside.
Failure to move back through to $40.00 levels could see Litecoin slide deeper into the red.
A fall back through the morning low $39.76 would bring the first major support level at $39.50 into play.
Barring an extended sell-off, however, Litecoin should steer clear the second major support level at $38.91.
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