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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 30th, 2020

Bob Mason

Litecoin

Litecoin rose by 1.28% on Monday. Following on from a 0.71% gain on Sunday, Litecoin ended the day at $41.87.

It was a mixed start to the day. Litecoin rose to an early morning high $41.53 before sliding to a late morning intraday low $40.57.

Coming within range of the first major support level at $40.47, Litecoin rallied to a late intraday high $42.24.

Litecoin broke through the first major resistance level at $42.11 before easing back to sub-$42 levels.

At the time of writing, Litecoin was down by 0.05% to $41.85. A mixed start to the day saw Litecoin rise to an early morning high $41.99 before falling to a low $41.78.

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 $41.56 pivot to support a run at the first major resistance level at $42.55.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $42.24.

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

Failure to avoid a fall through the $41.56 pivot could see Litecoin struggle on the day.

A fall through to sub-$41 levels would bring the first major support level at $40.88 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of the second major support level at $39.89.

Looking at the Technical Indicators

Major Support Level: $40.88

Major Resistance Level: $42.55

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 0.69% on Monday. Following on from a 2.39% rally on Sunday, Stellar’s Lumen ended the day at $0.06478.

Tracking the broader market, Stellar’s Lumen rose to an early morning high $0.06494 before hitting reverse.

Falling short of the major resistance levels, Stellar’s Lumen fell to a late morning intraday low $0.06300.

Steering clear of the first major support level at $0.06226, Stellar’s Lumen rallied to a late intraday high $0.065420.

Stellar’s Lumen came within range of the first major resistance level at $0.06544 before easing back to sub-$0.065 levels.

At the time of writing, Stellar’s Lumen was down by 0.22% to $0.064938. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.065175 before sliding to a low $0.064882.

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 $0.06440 pivot to support a run at the first major resistance level at $0.06580.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.065420.

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

Failure to avoid a fall through the $0.06440 pivot could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.064 levels would bring the first major support level at $0.06338 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.060 levels. The second major support level at $0.06198 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.06338

Major Resistance Level: $0.06580

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 rallied by 2.52% on Monday. Following on from a 1.94% gain on Sunday, Tron’s TRX ended the day at $0.01619.

Bullish throughout the day, Tron’s TRX rallied from an early morning intraday low $0.015786 to a late intraday high $0.016380.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01602.

Coming up against the second major resistance level at $0.01631, Tron’s TRX eased back to sub-$0.01620 levels.

At the time of writing, Tron’s TRX was up by 0.19% to $0.016220. A relatively bullish start to the day saw Tron’s TRX rise from an end of Sunday $0.01619 to an early high $0.01622

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 $0.01612 pivot to support a run at the first major resistance level at $0.01645.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.01638.

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

Failure to avoid a fall through the $0.01612 pivot would bring the first major support level at $0.01586 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.015 levels. The second major support level at $0.01552 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01586

Major Resistance Level: $0.01645

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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