Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 19/02/20
Litecoin
Litecoin rallied by 5.41% on Tuesday. Reversing a 1.63% decline from Monday, Litecoin ended the day at $77.40.
A choppy start to the day saw Litecoin rise to an early morning high $75.42 before hitting reverse.
Falling short of the major resistance levels, Litecoin slid to an early afternoon intraday low $70.22 before making a move.
Steering clear of the first major support level at $69.52, Litecoin rallied to a late intraday high $79.17.
Litecoin broke through the first major resistance level at $76.41 and the 38.2% FIB of $78 before falling back to sub-$78 levels.
The second major resistance level at $79.38 capped Litecoin’s upside on the day.
At the time of writing, Litecoin was down by 0.97% to $76.65. A bearish start to the day saw Litecoin fall from an early morning high $77.45 to a low $76.00.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $77 levels to support a run the first major resistance level at $80.97.
Support from the broader market would be needed, however, for Litecoin to breakout from the 38.2% FIB of $78.
Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.
Failure to break back through to $77 levels could see Litecoin fall deeper into the red.
A fall back through to sub-$75.60 levels would bring the first major support level at $72.02 into play.
Barring another crypto sell-off, however, Litecoin should steer clear of sub-$70 levels on the day.
Looking at the Technical Indicators
Major Support Level: $72.02
Major Resistance Level: $80.97
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rallied by 4.42% on Tuesday. Reversing a 2.93% slide from Monday, Stellar’s Lumen ended the day at $0.076106.
A choppy start to the day saw Stellar’s Lumen rise to an early morning high $0.074383 before hitting reverse.
Falling short of the major resistance levels, Stellar’s Lumen fell to an early afternoon intraday low $0.070196.
Steering clear of the major support levels, Stellar’s Lumen rallied to a late intraday high $0.076564.
Stellar’s Lumen broke through the first major resistance level at $0.07599 before falling back to sub-$0.075 levels.
A bullish end to the day, however, saw Stellar’s Lumen break back through the first major resistance level to wrap up the day at $0.076 levels.
At the time of writing, Stellar’s Lumen was down by 1.17% to $0.075212. A bearish start to the day saw Stellar’s Lumen fall from the early morning high $0.075869 to a low $0.074612.
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 $0.076 levels to support a run at the first major resistance level at $0.07857.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the Tuesday’s high $0.076848.
Barring an extended crypto rally, resistance at $0.077 would likely leave Stellar’s Lumen short of the first major resistance level.
Failure to move through to $0.076 levels could see Stellar’s Lumen struggle throughout the day.
A fall back through to sub-$0.07440 levels would bring the first major support level at $0.07192 into play.
Barring another crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.070 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.07192
Major Resistance Level: $0.07857
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 3.48% on Tuesday. Reversing a 2.21% decline from Monday, Tron’s TRX ended the day at $0.02259.
Tracking the broader market, Tron’s TRX fell from an early morning high $0.022282 to an early afternoon intraday low $0.020545.
Steering clear of the major support and resistance levels, Tron’s TRX rallied to a late intraday high $0.022929.
Tron’s TRX broke through the first major resistance level at $0.02281 before falling back to $0.2260 levels.
At the time of writing, Tron’s TRX was down by 1.18% to $0.022324. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.022531 to a low $0.022096.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to move back through the morning high $0.022531 to support a run at the first major resistance level at $0.02350.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.022929.
Barring an extended crypto rally, resistance at $0.0230 would likely leave Tron’s TRX short of the first major resistance level.
Failure to move back through the morning high could see Tron’s TRX fall deeper into the red.
A fall back through to sub-$0.022 levels would bring the first major support level at $0.02111 into play.
Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.020 levels, however.
Looking at the Technical Indicators
Major Support Level: $0.02111
Major Resistance Level: $0.02350
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
More From FXEMPIRE:
Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 19/02/20
European Equities: Risk Pendulum Swings in Favor of the Bulls Ahead of the Open
Gold Price Prediction – Prices Break out to Fresh 7-Year Highs
Gold (GC) Technical Analysis Price Futures – Big Price Surge after Overtaking Resistance Cluster