Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 22nd, 2020

Litecoin

Litecoin tumbled by 8.43% on Monday. Following on from a 2.89% fall on Sunday, Litecoin ended the day at $43.13.

It was a mixed start to the day. Litecoin rose to an early morning intraday high $47.68 before hitting reverse.

Falling short of the first major resistance level at $48.34, Litecoin slid to an early afternoon intraday low $41.64.

Litecoin fell through the day’s major support levels before finding support to revisit $44.00 levels before easing back.

The partial recovery saw Litecoin break back through the third major support level at $42.63 to end the day at $43 levels.

At the time of writing, Litecoin was up by 0.58% to $43.38. A mixed start to the day saw Litecoin fall to an early morning low $42.77 before rising to a high $43.71.

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

For the day ahead

Litecoin would need to move through the $44.15 pivot to support a run at the first major resistance level at $46.66.

Support from the broader market would be needed, however, for Litecoin to break back through to $45 levels.

Barring an extended crypto rally, resistance at $45 would likely leave Litecoin short of the first major resistance level.

Failure to move through the $44.15 pivot level would bring the first major support level at $40.62 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$40 levels. The second major support level sits at $38.11.

Looking at the Technical Indicators

First Major Support Level: $40.62

First Major Resistance Level: $46.66

23.6% FIB Retracement Level: $

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen tumbled by 8.98% on Monday. Following on from a 2.16% decline on Sunday, Stellar’s Lumen ended the day at $0.069945.

It was also a mixed start to the week. Stellar’s Lumen rose to an early morning intraday high $0.077397 before hitting reverse.

Falling short of the first major resistance level at $0.07859, Stellar’s Lumen slid to an early afternoon intraday low $0.06897.

Stellar’s Lumen slid through the day’s major support levels before a brief recovery to $0.071 levels.

Stellar’s Lumen broke back through the third major support level at $0.07014 before falling back to sub-$0.070 levels.

At the time of writing, Stellar’s Lumen was up by 1.21% to $0.07079. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.069497 before rising to a high $0.071702.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would move through the $0.07210 pivot to support a run at the first major resistance level at $0.07524.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back out from $0.072 levels.

Barring a broad-based crypto rally, resistance at $0.072 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through the $0.07210 pivot level would bring the first major support level at $0.06681 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06368.

Looking at the Technical Indicators

First Major Support Level: $0.06681

First Major Resistance Level: $0.07524

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX slid by 7.76% on Monday. Following on from a 2.12% decline on Sunday, Tron’s TRX ended the day at $0.024883.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.027594 before hitting reverse.

Falling short of the first major resistance level at $0.02777, Tron’s TRX slid to a late afternoon intraday low $0.024508.

Tron’s TRX fell through the first major support level at $0.02623 and the second major support level at $0.02548.

Finding late support, Tron’s TRX briefly revisited $0.0253 levels before easing back into the deep red.

At the time of writing, Tron’s TRX was up by 1.01% to $0.02514. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02464 before rising to a high $0.02539.

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 the $0.02577 pivot level to support a run at the first major resistance level at $0.02682.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.026 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $0.02566 pivot level would bring the first major support level at $0.02373 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.023 levels. The second major support level sits at $0.02258.

Looking at the Technical Indicators

First Major Support Level: $0.02373

First Major Resistance Level: $0.02682

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

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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