Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 11th, 2020

Fibo Quantum

Litecoin

Litecoin rose by 1.79% on Wednesday. Reversing a 1.23% fall from Tuesday, Litecoin ended the day at $46.71.

A mixed start to the day saw Litecoin rise to a mid-morning high $46.30 before hitting reverse.

Falling short of the first major resistance level at $46.74, Litecoin slid to a late morning intraday low $45.64.

Steering clear of the first major support level at $45.26, Litecoin rallied to a late afternoon intraday high $47.15.

Litecoin broke through the first major resistance level at $46.74 before falling back to a low $46.01.

Finding support late on, Litecoin moved back through to $46.70 levels to deliver the upside on the day. The first major resistance level at $46.74 pinned Litecoin back late on.

At the time of writing, Litecoin was up by 0.13% to $46.77. A mixed start to the day saw Litecoin fall to an early morning low $46.64 before rising to a high $46.85

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

For the day ahead

Litecoin would need to avoid sub-$46.50 levels to support a run at the first major resistance level at $47.36.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $47.15.

Barring another extended crypto rally, the first major resistance level at $47.36 and Wednesday high should limit any upside.

Failure to avoid sub-$46.50 levels could see Litecoin cough up Wednesday’s gain.

A fall back through the morning low to sub-$46.50 levels would bring the first major support level at $45.85 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $44.99.

Looking at the Technical Indicators

Major Support Level: $45.85

Major Resistance Level: $47.36

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 1.11% on Wednesday. Partially reversing a 1.76% fall from Tuesday, Stellar’s Lumen ended the day at $0.079034.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning intraday low $0.077879 before finding support.

Steering clear of the first major support level at $0.07730, Stellar’s Lumen rose to a late morning high $0.078987.

Coming up short of the major resistance levels, Stellar’s Lumen fell back to sub-$0.078 levels before making a move.

Through the late afternoon, Stellar’s Lumen struck a high $0.079028 before easing back.

Falling short of the first major resistance level at $0.08007, Stellar’s Lumen fell back to sub-$0.078 levels before finding late support.

A relatively bullish end to the day delivered the upside on the day and a final hour intraday high $0.079034.

At the time of writing, Stellar’s Lumen was up by 0.43% to $0.079377. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.079218 to a high $0.079377.

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

For the day ahead

Stellar’s Lumen would need to avoid sub-$0.07870 levels to support a run at the first major resistance level at $0.07942.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.079377.

In the event of an extended crypto rally, the second major resistance level at $0.07980 would likely limit any upside.

Failure to avoid sub-$0.07870 levels could see Stellar’s Lumen give up Wednesday’s gain.

A fall through the $0.07865 pivot would bring the first major support level at $0.07827 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear sub-$0.077 levels. The second major support level at $0.07750 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.07827

Major Resistance Level: $0.07942

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 rose by 0.60% on Wednesday. Partially reversing a 2.34% slide from Tuesday, Tron’s TRX ended the day at $0.017625.

A mixed start to the day saw Tron’s TRX rise to a mid-morning high $0.017669 before hitting reverse.

Falling short of the first major resistance level at $0.01787, Tron’s TRX slid to a late morning low $0.017351.

Steering clear of the major support levels, Tron’s TRX struck a late afternoon intraday high $0.017669 before easing back.

Coming up short of the first major resistance level at $0.01787, Tron’s TRX fell to a late intraday low $0.017249 and into the red.

Finding support at the first major support level at $0.017310, Tron’s TRX bounced back to wrap up the day at $0.0176 levels.

At the time of writing, Tron’s TRX was up by 0.27% to $0.017673. A relatively bullish start to the day saw Tron’s TRX rise from an early morning low $0.017612 to a high $0.017673.

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

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.01750 levels to support a run at the first major resistance level at $0.01778.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.017673.

Barring a broad-based crypto rally, the first major resistance level at $0.01778 would likely limit any upside.

Failure to avoid sub-$0.01750 levels would bring the first major support level at $0.01736 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.017 levels. The second major support level at $0.01709 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01736

Major Resistance Level: $0.01778

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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