Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 28/04/20

Litecoin

Litecoin fell by 0.25% on Monday. Partially reversing a 0.52% gain from Sunday, Litecoin ended the day at $44.53.

A bullish start to the day saw Litecoin rally to an early morning intraday high $45.28 before hitting reverser.

Falling short of the first major resistance level at $45.43, Litecoin slid to an early afternoon intraday low $43.19.

The reversal saw Litecoin fall through the first major support level at $43.80 before recovering to $44 levels.

At the time of writing, Litecoin was down by 1.62% to $43.81. A bearish start to the day saw Litecoin fall from an early morning high $44.56 to a low $43.68.

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

For the day ahead

Litecoin would need to move back through to $44.30 levels to support a run the first major resistance level at $45.48.

Support from the broader market would be needed, however, for Litecoin to breakout out from Monday’s high $45.28.

Barring an extended crypto rally, the first major resistance level at $45.48 would likely limit any upside on the day.

Failure to move back through to $44.30 levels could see Litecoin struggle throughout the day.

A fall through the morning low $43.68 would bring the first major support level at $43.39 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of the second major support level at $42.24.

Looking at the Technical Indicators

Major Support Level: $43.39

Major Resistance Level: $45.48

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 7.86% on Monday. Following on from a 0.50% gain on Sunday, Stellar’s Lumen ended the day at $0.067193.

In a choppy start to the day, Stellar’s Lumen fell to a late morning intraday low $0.061334 before finding support.

Steering clear of the first major support level at $0.061240, Stellar’s Lumen rallied to a late intraday high $0.068713.

Stellar’s Lumen broke through the day’s major resistance levels to wrap up the day at its highest level since February.

At the time of writing, Stellar’s Lumen was up by 0.36% to $0.067433. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.068495 before falling to a low $0.066187.

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 $0.068 levels to support a run at the first major resistance level at $0.070160.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from Monday’s high $0.068713.

Barring a broad-based crypto rebound, resistance at $0.068 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move back through to $0.068 levels could see Stellar’s Lumen hit reverse.

A fall through to sub-$0.06580 levels would bring the first major support level at $0.06278 into play.

Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.061 levels.

Looking at the Technical Indicators

Major Support Level: $0.06278

Major Resistance Level: $0.07016

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 1.39% on Monday. Following on from a 1.91% gain on Sunday, Tron’s TRX ended the day at $0.014506.

It was also a choppy day for Tron’s TRX. Recovering from a mid-morning low $0.014251, Tron’s TRX rallied to a late morning intraday high $0.014617.

Tron’s TRX broke through the first major resistance level at $0.01438 and the second major resistance level at $0.01451.

An early afternoon reversal saw Tron’s TRX fall to an intraday low $0.014192. Steering clear of the first major support level at $0.01399, Tron’s TRX bounced back to $0.0145 levels to end the day in the green.

At the time of writing, Tron’s TRX was down by 1.28% to $0.014320. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.014471 to a low $0.014318.

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 to $0.01445 levels to support a run at the first major resistance level at $0.01468.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.014617.

Barring an extended crypto rally, the first major resistance level at $0.01468 would likely limit any upside.

Failure to move back through to $0.01445 levels could see Tron’s TRX struggle in the day.

A fall back through the morning low $0.014318 would bring the first major support level at $0.014260 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01401.

Looking at the Technical Indicators

Major Support Level: $0.01426

Major Resistance Level: $0.01468

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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