Home Litecoin Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 1st, 2020

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 1st, 2020

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Litecoin

Litecoin slid by 1.70% on Tuesday. Reversing a 1.28% gain from Monday, Litecoin ended June down by 9.66% to $41.17. While down for the month, Litecoin gained 5.03% in the 2nd quarter.

It was a mixed start to the day. Litecoin rose to an early morning high $42.06 before hitting reverse.

Falling short of the first major resistance level at $42.55, Litecoin fell to an early afternoon intraday low $40.73.

Finding support at the first major support level at $40.88, Litecoin recovered to $41.5 levels before easing back.

At the time of writing, Litecoin was down by 0.29% to $41.05. A bearish start to the day saw Litecoin fall from an early morning high $41.16 to a low $40.96.

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

For the day ahead

Litecoin would need to move through the $41.35 pivot to support a run at the first major resistance level at $41.91.

Support from the broader market would be needed, however, for Litecoin to break out from $41.50 levels.

Barring another crypto rally, the first major resistance level and Tuesday’s high $42.06 would likely cap any upside.

Failure to move through the $41.35 pivot could see Litecoin struggle on the day.

A fall back through to sub-$41 levels would bring the first major support level at $40.58 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $40.58

Major Resistance Level: $41.91

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 2.85% on Tuesday. Following on from a 0.69% gain on Monday, Stellar’s Lumen ended June down by 4.18% to $0.67013. While down for the month, Stellar’s Lumen surged by 65.45% in the 2nd quarter.

A mixed start to the day saw Stellar’s Lumen rise an early morning high $0.06520 before hitting reverse.

Falling short of the major resistance levels, Stellar’s Lumen fell to a late morning intraday low $0.06449.

Steering clear of the first major support level at $0.06338, Stellar’s Lumen rallied to a late intraday high $0.06747.

Stellar’s Lumen broke through the first major resistance level at $0.06580 and the second major resistance level at $0.06682.

At the time of writing, Stellar’s Lumen was down by 0.79% to $0.06649. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.06670 to a low $0.06636

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 $0.06635 pivot to support a run at the first major resistance level at $0.06816.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.067468.

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

A fall through the $0.06635 pivot could see Stellar’s Lumen struggle throughout the day.

A pullback through to sub-$0.066 levels would bring the first major support level at $0.06518 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06334.

Looking at the Technical Indicators

Major Support Level: $0.06518

Major Resistance Level: $0.06816

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 1.17% on Tuesday. Following on from a 2.52% rally on Monday, Tron’s TRX ended June up by 3.82% to $0.016409. In the 2nd quarter, Tron’s TRX rallied by 41.46%.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.016205 before making a move.

Steering clear of the first major support level at $0.01586, Tron’s TRX rallied to a late afternoon intraday high $0.016628.

Tron’s TRX broke through the first major resistance level at $0.01645 before easing back to sub-$0.01640 levels.

Finding late support, Tron’s TRX briefly broke back through the first major resistance level before wrapping up the month at $0.016409.

At the time of writing, Tron’s TRX was down by 0.45% to $0.016335. A bearish start to the day saw Tron’s TRX fall from an end of Tuesday 0.016409 to a low $0.016241.

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

For the Day Ahead

Tron’s TRX would need to move through the $0.01640 pivot to support a run at the first major resistance level at $0.01662.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0166 levels.

Barring another broad-based crypto rally, the first major resistance level and Tuesday’s high $0.016628 would likely cap any upside.

Failure to move through the $0.01640 pivot would bring the first major support level at $0.01620 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.016 levels. The second major support level at $0.016 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01620

Major Resistance Level: $0.01662

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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