Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 28th, 2020

Litecoin

Litecoin rallied by 10.91% on Monday. Reversing a 2.21% slide from Sunday, Litecoin ended the day at $53.38.

It was a mixed start to the day. Litecoin rose to a mid-day high $49.70 before falling to a mid-afternoon intraday low $46.93.

Finding support at the first major support level at $46.92, Litecoin rallied to a late intraday high $56.27.

Litecoin broke through the day’s major resistance levels before pulling back.

The pullback saw Litecoin fall through the third major resistance level at $55.16 to wrap up the day at $53 levels.

At the time of writing, Litecoin was up by 0.96% to $53.89. A bullish start to the day saw Litecoin rise from an early morning low $53.59 to a high $54.07.

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

For the day ahead

Litecoin would need to avoid a fall through the $52.19 pivot to support a run at the first major resistance level at $57.46.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $56.27.

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

Failure to avoid a fall through the $52.19 pivot would bring the first major support level at $48.12 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$48 levels. The second major support level sits at $42.85.

Looking at the Technical Indicators

First Major Support Level: $48.12

First Major Resistance Level: $57.46

23.6% FIB Retracement Level: $

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 4.75% on Monday. Following on from a 1.42% decline on Sunday, Stellar’s Lumen ended the day at $0.09466.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.10044 before hitting reverse.

Falling short of the first major resistance level at $0.10419, Stellar’s Lumen slid to a mid-afternoon intraday low $0.088367.

Stellar’s Lumen fell through the first major support level at $0.09611 and the second major support level at $0.09288.

Finding late support, Stellar’s Lumen broke back through the second major support level to limit the downside on the day.

At the time of writing, Stellar’s Lumen was up 0.96% to $0.09557. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.09391 before rising to a high $0.09583.

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

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.09449 pivot to support a run at the first major resistance level at $0.10061.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.10044.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high would likely limit any upside.

A fall through the $0.09449 pivot would bring the first major support level at $0.08854 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.08242.

Looking at the Technical Indicators

First Major Support Level: $0.08854

First Major Resistance Level: $0.10061

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 rose by 0.94% on Monday. Reversing a 0.99% fall from Sunday, Tron’s TRX ended the day at $0.01876.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.018978 before hitting reverse.

Falling short of the first major resistance level at $0.01921, Tron’s TRX slid to a mid-afternoon intraday low $0.017685.

Tron’s TRX fell through the first major support level at $0.01815 and the second major support level at $0.01772.

Finding late support, Tron’s TRX broke back through the support levels to strike a late intraday high $0.019177.

Tron’s TRX came within range of the first major resistance level at $0.01921 before tumbling back to $0.01820 levels.

Finding support at the first major support level at $0.01815, Tron’s TRX recovered to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.56% to $0.018868. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.018755 to a high $0.019031.

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 through the $0.01854 pivot level to support another run at the first major resistance level at $0.01940.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019013.

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

Failure to avoid a fall through the $0.01854 pivot level would bring the first major support level at $0.01791 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level at $0.01705 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.01791

First Major Resistance Level: $0.01940

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