Bitcoin and Litecoin over dollar banknotes.

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 16th, 2020

Litecoin

Litecoin fell by 1.32% on Wednesday. Reversing a 0.09% gain from Tuesday, Litecoin ended the day at $43.30.

A bearish start to the day saw Litecoin fall to a late morning low $43.18 before finding support.

Finding support at the first major support level at $43.18 Litecoin rose to a late morning intraday high $44.00.

Falling short of the first major resistance level at $44.29 Litecoin fell to a mid-afternoon intraday low $42.84.

Litecoin fell through the first major support level at $43.18 before a move back through to $43.30 levels.

At the time of writing, Litecoin was up by 0.05% to $43.32. A mixed start to the day saw Litecoin fall to an early morning low $43.00 before striking a high $43.34.

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

LTC/USD 16/07/20 Daily Chart

For the day ahead

Litecoin would need to move through the $43.40 pivot to support a run at the first major resistance level at $43.92.

Support from the broader market would be needed, however, for Litecoin to break out from $43.50 levels.

Barring another crypto rally, the first major resistance level and Wednesday’s high $44.00 would likely cap any upside.

Failure to move through the $43.40 pivot would bring the first major support level at $42.76 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$42 levels. The second major support level at $42.22 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $42.76

Major Resistance Level: $43.92

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 2.56% on Wednesday. Following on from a 3.09% on Tuesday, Stellar’s Lumen ended the day at $0.094719.

It was a choppy start to the day. Stellar’s Lumen rose to an early morning high $0.094048 before hitting reverse.

Falling short of the major resistance levels, Stellar’s Lumen slid to a mid-afternoon intraday low $0.087799.

Finding support at the first major support level at $0.08782, Stellar’s Lumen rose to a late afternoon intraday high $0.097069.

Stellar’s Lumen broke through the first major resistance level at $0.09482 before falling back to $0.091 levels.

Finding late support, Stellar’s Lumen wrapped up the day at $0.094 levels. The second major resistance level at $0.09729 had limited the upside on the day.

At the time of writing, Stellar’s Lumen was up by 1.77% to $0.096400. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.093521 before striking a high $0.096400.

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

XLM/USD 16/07/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.09320 pivot to support a run at the first major resistance level at $0.098590.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.097069.

Barring another broad-based crypto rally, the first major resistance level at $0.09859 would likely limit any upside.

Failure to avoid a fall through the $0.09320 pivot would bring the first major support level at $0.08932 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.080 levels. The second major support level at $0.08393 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.08932

Major Resistance Level: $0.09859

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 fell by 0.82% on Wednesday. Reversing a 0.85% gain from Tuesday, Tron’s TRX ended the day at $0.01760.

It was also a bearish start to the day. Tron’s TRX fell to a late morning intraday low $0.017501 before finding support.

Steering clear of the first major support level at $0.01730, Tron’s TRX struck an early afternoon intraday high $0.017768.

Coming up short of the first major resistance level at $0.01791, slipped back to sub-$0.0177 levels.

At the time of writing, Tron’s TRX was up by 0.18% to $0.017632. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017533 before rising to a high $0.017632.

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

TRX/USD 16/07/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01760 pivot level to support a run at the first major resistance level at $0.01775.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0177 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.017768 would likely cap any upside.

Failure to avoid a fall through the $0.01760 pivot level would bring the first major support level at $0.01748 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The third major support level at $0.01736 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01748

Major Resistance Level: $0.01775

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