Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 04/05/20

Fibo Quantum

Litecoin

Litecoin fell by 2.25% on Sunday. Partially reversing a 4.56% rally from Saturday, Litecoin ended the week up by 7.86% to $48.15.

A bullish start to the day saw Litecoin rally to an early morning intraday high $49.99 before hitting reverse.

Falling short of the first major resistance level at $50.34, Litecoin slid to a mid-afternoon intraday low $46.71.

Litecoin fell through the first major support level at $47.49 before recovering to $48 levels.

At the time of writing, Litecoin was down by 4.28% to $46.09. A bearish start to the day saw Litecoin slide from an early morning high $48.27 to a low $45.80.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $46.58.

For the day ahead

Litecoin would need to move through to $48.30 levels to support a run the first major resistance level at $49.86.

Support from the broader market would be needed, however, for Litecoin to break out from the first major support level.

Barring a broad-based crypto rebound, resistance at $48 would likely leave Litecoin short of the first major resistance level at $49.86.

Failure to move through to $48.30 levels could see Litecoin struggle throughout the day.

A fall through the morning low $45.80 would bring the second major support level at $45.00 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$45.00 levels on the day.

Looking at the Technical Indicators

Major Support Level: $46.58

Major Resistance Level: $49.86

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 3.57% on Sunday. Reversing a 3.92% gain from Saturday, Stellar’s Lumen ended the week up by 17.05% to $0.072923.

A bullish start to the day saw Stellar’s Lumen rally to an early morning intraday high 0.077171 before hitting reverse.

Falling short of the first major resistance level at $0.07735, Stellar’s Lumen slid to a mid-afternoon intraday low $0.071781.

Stellar’s Lumen fell through the first major support level at $0.07271 before briefly recovering to $0.073 levels.

At the time of writing, Stellar’s Lumen was down by 5.39% to $0.068994. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.073264 to a low $0.067642.

Stellar’s Lumen fell through the first major support level at $0.07075 and the second major support level at $0.06857.

For the day ahead

Stellar’s Lumen would need to move through to $0.074 levels to bring the first major resistance level to bring $0.07614 levels into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the first major support level.

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

Failure to break back through the first major support level could see Stellar’s Lumen fall deeper into the red.

A fall back through the second major support level at $0.06857 would bring $0.067 levels into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the third major support level at $0.06318.

Looking at the Technical Indicators

Major Support Level: $0.07075

Major Resistance Level: $0.07614

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 fell by 2.37% on Sunday. Partially reversing a 3.05% gain from Saturday, Tron’s TRX ended the week up by 11.86% to $0.016004.

A bullish start saw Tron’s TRX rally to an early morning intraday high $0.016598 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.01657 before sliding to a mid-afternoon intraday low $0.015567.

The reversal saw Tron’s TRX slide through the first major support level at $0.01588 before briefly revisiting $0.01610 levels.

At the time of writing, Tron’s TRX was down by 5.12% to $0.015184. A bearish start to the day saw Tron’s TRX slide from an early morning high $0.016054 to a low $0.015179.

Steering clear of the major resistance levels, Tron’s TRX fell through the first major support level at $0.01551.

For the Day Ahead

Tron’s TRX would need to move through to $0.016 levels to support a run at the first major resistance level at $0.01655.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the first major support level at $0.01551.

Barring a broad-based crypto recovery, resistance at $0.016 would likely leave Tron’s TRX short of the first major resistance level at $0.01655.

Failure to move through to $0.016 levels could see Tron’s TRX fall deeper into the red.

A fall back through the morning low $0.015179 would bring the second major support level at $0.01503 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.015 levels.

Looking at the Technical Indicators

Major Support Level: $0.01551

Major Resistance Level: $0.01655

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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