Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 21st, 2020

Litecoin

Litecoin slid by 1.69% on Monday. Reversing a 0.42% gain from Sunday, Litecoin ended the day at $41.97.

It was another mixed start to the day. Litecoin rose to an early morning intraday high $42.84 before hitting reverse.

Falling short of the first major resistance level at $43.09, Litecoin slid to a late intraday low $41.45.

Litecoin fell through the first major support level at $42.05 before briefly revisiting $42 levels.

The second major support level at $41.44 limited the downside on the day.

At the time of writing, Litecoin was up by 0.71% to $42.27. A bullish start to the day saw Litecoin rise from an early morning low $41.89 to a high $42.27.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall back through the $42.10 pivot to support a run at the first major resistance level at $42.72.

Support from the broader market would be needed, however, for Litecoin to break out from $42.50 levels.

Barring another crypto rally, the first major resistance level and Monday’s high $42.84 would likely cap any upside.

Failure to avoid a fall back through the $42.10 pivot would bring the first major support level at $41.33 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.70 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $41.33

Major Resistance Level: $42.72

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 5.63% on Monday. Following on from a 0.48% decline on Sunday, Stellar’s Lumen ended the day at $0.094695.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.10186 before hitting reverse.

Falling short of the first major resistance level at $0.10288, Stellar’s Lumen slid to a late intraday low $0.093715.

Stellar’s Lumen fell through the first major support level at $0.09746 and the second major support level at $0.09448.

Finding late support, Stellar’s Lumen moved back through the second major support level to reduce the deficit.

At the time of writing, Stellar’s Lumen was up by 0.77% to $0.095428. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.094300 to a high $0.095671.

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 the $0.09676 pivot to support a run at the first major resistance level at $0.09980.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.099 levels.

Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.

Failure to move through the $0.09676 pivot would bring the first major support level at $0.09165 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.090 levels. The second major support level sits at $0.08861.

Looking at the Technical Indicators

Major Support Level: $0.09165

Major Resistance Level: $0.9980

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX slid by 2.24% on Monday. Reversing a 0.68% gain from Sunday, Tron’s TRX ended the day at $0.017184.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.017613 before hitting reverse.

Falling short of the first major resistance level at $0.01771 Tron’s TRX slid to a late intraday low $0.016951.

Tron’s TRX fell through the first major support level at $0.01731 and the second major support level at $0.01705.

Finding late support, Tron’s TRX moved back through the second major support level to reduce the loss on the day.

At the time of writing, Tron’s TRX was down by 0.44% to $0.017260. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017213 before rising to a high $0.017260.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.01725 pivot level to support a run at the first major resistance level at $0.01755.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.01750 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.017613 would likely cap any upside.

Failure to avoid a fall back through the $0.01725 pivot level would bring the first major support level at $0.01689 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of the second major support level at $0.01659.

Looking at the Technical Indicators

Major Support Level: $0.01689

Major Resistance Level: $0.01755

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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