Home Litecoin Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 23rd, 2020

Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 23rd, 2020

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Litecoin

Litecoin rallied by 3.15% on Tuesday. Partially reversing an 8.43% slump from Monday, Litecoin ended the day at $44.51.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $42.77 before making a move.

Steering well clear of the first major support level at $40.62, Litecoin rallied to a late intraday high $44.82.

Falling short of the first major resistance level at $46.66, Litecoin eased back to wrap up the day at sub-$45 levels.

At the time of writing, Litecoin was up by 0.04% to $44.53 A mixed start to the day saw Litecoin fall to an early morning low $44.42 before rising to a high $44.71.

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

For the day ahead

Litecoin would need to avoid a fall through the $44.03 pivot to support a run at the first major resistance level at $45.30.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $44.82.

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

Failure to avoid a fall through the $44.03 pivot level would bring the first major support level at $43.25 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $41.98.

Looking at the Technical Indicators

First Major Support Level: $43.25

First Major Resistance Level: $44.03

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 2.47% on Tuesday. Partially reversing Monday’s 8.98% tumble, Stellar’s Lumen ended the day at $0.071742.

It was also a mixed start to the day. Stellar’s Lumen fell to an early morning intraday low $0.069497 before making a move.

Steering clear of the first major support level at $0.06681, Stellar’s Lumen rose to a late morning intraday high $0.072250

Falling short of the first major resistance level at $0.07524, Stellar’s Lumen fell back to sub-$0.070 levels.

Finding late support, however, Stellar’s Lumen moved back through to $0.072 levels before easing back.

At the time of writing, Stellar’s Lumen was down by 0.58% to $0.071328. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.071748 to a low $0.071321.

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 $0.07116 pivot to support a run at the first major resistance level at $0.07283.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.07225.

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

Failure to avoid a fall through the $0.07116 pivot level would bring the first major support level at $0.07008 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06841.

Looking at the Technical Indicators

First Major Support Level: $0.07008

First Major Resistance Level: $0.07283

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 rose by 0.27% on Tuesday. Following Monday’s 7.76% slide, Tron’s TRX ended the day at $0.025072.

In the early hours, Tron’s TRX rose to an early morning intraday high $0.025584 before hitting reverse.

Falling short of the first major resistance level at $0.02682, Tron’s TRX slipped to a midday intraday low $0.024494.

Steering clear of the first major support level at $0.02373, Tron’s TRX revisited $0.0253 levels before easing back.

At the time of writing, Tron’s TRX was up by 0.20% to $0.025121. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.02495 to a high $0.02529.

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 $0.02505 pivot level to support a run at the first major resistance level at $0.02561.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.02530 levels.

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

Failure to avoid a fall through the $0.02505 pivot level would bring the first major support level at $0.02452 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.024 levels. The second major support level sits at $0.02396.

Looking at the Technical Indicators

First Major Support Level: $0.02452

First Major Resistance Level: $0.02561

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

This article was originally posted on FX Empire

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