Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 7th, 2020

Litecoin

Litecoin rose by 0.15% on Sunday. Following a 5.77% slide from Saturday, Litecoin ended the week down by 23.85% to $47.90.

A mixed start to the day saw Litecoin fall to an early morning intraday low $46.30 before making a move.

Steering clear of the first major support level at $44.96, Litecoin rose to a late morning intraday high $49.17.

Falling short of the first major resistance level at $50.89, Litecoin slid back to sub-$47 levels before finding support.

A late recovery delivered the upside on the day.

At the time of writing, Litecoin was up by 1.06% to $48.41. A bullish start to the day saw Litecoin rise from an early morning low $47.89 to a high $48.56.

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

For the day ahead

Litecoin would need to avoid a fall through the $47.79 pivot to support a run at the first major resistance level at $49.28.

Support from the broader market would be needed, however, for Litecoin to break back through to $49 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $49.17 would likely cap any upside.

Failure to avoid a fall through the $47.79 pivot would bring the first major support level at $46.41 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $44.92.

Looking at the Technical Indicators

First Major Support Level: $46.41

First Major Resistance Level: $49.28

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 2.59% on Sunday. Partially reversing a 7.32% slide from Saturday, Stellar’s Lumen ended the week down by 21.20% to $0.077388.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.072593 before making a move.

Steering clear of the first major support level at $0.07114, Stellar’s Lumen rallied to a late intraday high $0.078962.

Falling short of the first major resistance level at $0.08150, Stellar’s Lumen eased back to end the day at $0.077 levels.

At the time of writing, Stellar’s Lumen was up by 1.55% to $0.078589. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.077285 to a high $0.079122.

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 through the $0.07631 pivot to support a run at the first major resistance level at $0.08004.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.080 levels.

Barring a broad-based crypto rally, the first major resistance level would like cap any upside.

Failure to avoid a fall through the $0.07631 pivot would bring the first major support level at $0.07367 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06995.

Looking at the Technical Indicators

First Major Support Level: $0.07367

First Major Resistance Level: $0.08004

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 rallied by 5.39% on Sunday. Partially reversing a 15.95% tumble from Saturday, Tron’s TRX ended the week up by 16.44% to $0.031499.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.027885 before making a move.

Steering clear of the first major support level at $0.02576, Tron’s TRX rallied to a mid-day intraday high $0.032658.

While falling short of the first major resistance level at $0.03545, Tron’s TRX broke through the 23.6% FIB of $0.0291.

An afternoon pullback saw Tron’s TRX fall back to a low $0.02947 before recovering to $0.031 levels.

At the time of writing, Tron’s TRX was up by 1.28% to $0.031901. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.031371 before striking a high $0.032213.

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 $0.03068 pivot level to support a run at the first major resistance level at $0.03348.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.032658.

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

Failure to avoid a fall through the $0.03068 pivot level would bring the first major support level at $0.02870 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.028 levels. The second major support level sits at $0.02591.

Looking at the Technical Indicators

First Major Support Level: $0.02870

First Major Resistance Level: $0.03348

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