Litecoin, Stellars Lumen and Trons TRX – Daily Analysis – 06/01/20

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Litecoin

Litecoin rose 1.36% on Sunday. After gaining 1.26% on Saturday, Litecoin ended the week up 0.56% to $ 43.28.

A mixed start to the day caused Litecoin to hit a high of $ 43.22 in the early morning, before falling to a low of $ 42.60 in the morning.

Litecoin broke from the first major support level at $ 42.04 and rose to an intraday high of $ 44.51 in the late afternoon.

Litecoin broke the first major resistance level at $ 43.11 and the second major resistance level at $ 43.50 before striking backwards.

Compared to the third major resistance level at USD 44.57, Litecoin fell behind due to the large resistance levels.

When support came in below USD 43, Litecoin rebounded to USD 43 to improve the day's upward trend.

At the time of writing, Litecoin rose 0.58% to $ 43.53. A bullish start to the day caused Litecoin to rise from an early morning low of $ 43.12 to a high of $ 43.61.

Litecoin left the most important support and resistance levels unchecked early on.

For the next day

Litecoin would have to drop through the morning high of $ 43.61 to support a run at the first major resistance level of $ 44.33.

Litecoin would need broader market support to return to $ 44 levels.

Subject to a crypto rebound, however, the first major resistance level and Sunday's high of $ 44.51 would likely limit an upward trend.

If you don't move through the morning high of $ 43.61, Litecoin could fall back into the red.

A fall below $ 43 would put the first key support level at $ 42.42 into play.

However, subject to a longer sell-off, Litecoin should leave the second major support level at $ 41.55.

Look at the technical indicators

Major support level: $ 42.42

Major resistance level: $ 44.33

23.6% FIB retracement level: $ 62

38.2% FIB retracement level: $ 78

62% FIB retracement level: $ 104

Stellar's lumen

Stellar's lumen dropped 0.31% on Sunday. After a 0.35% drop from Saturday, Stellar's lumens decreased 1.62% the week to $ 0.045502.

With a mixed start to the day, Stellar's lumen fell from an early morning high of $ 0.046112 to a late morning low of $ 0.045396.

Stellar's lumen turned away from the high levels of support and resistance and rose to an intraday high of $ 0.046349 in the late afternoon.

Stellar's lumen broke the first major resistance level at $ 0.04601 before going into reverse. The late reversal caused Stellar's lumen to fall below the $ 0.046 level and into the red.

At the time of writing, Stellar's lumen had dropped 0.27% to $ 0.045378. A bearish start to the day caused Stellar's lumen to drop from an early morning high of $ 0.045421 to a low of $ 0.045378.

The Stellar lumen left the most important support and resistance levels unchecked at an early stage.

For the next day

Stellar's lumen should return to $ 0.04574 to support a run at the first major resistance level of $ 0.04612.

Support from the broader market would, however, be needed for Stellar's lumen to return to the $ 0.046 level.

With the exception of a broad-based crypto rally, the first major resistance level would likely limit every upward trend of the day.

If the $ 0.04574 level is not reached again, Stellar's lumens can fight all day.

A drop from the Sunday low of $ 0.045357 would put the first key support level at $ 0.04512 into play.

Aside from a crypto meltdown, Stellar's lumen should leave the second key support level at $ 0.04474.

Look at the technical indicators

Major support level: $ 0.04512

Main resistance level: $ 0.04612

23.6% FIB retracement level: $ 0.1051

38% FIB retracement level: $ 0.1433

62% FIB retracement level: $ 0.2050

Trons TRX

Tron's TRX fell 0.11% on Sunday. After a 0.29% gain on Saturday, Tron's TRX declined 1.24% to $ 0.01353 over the weekend.

Tron's TRX tracked the broader market, recovering from an intraday low of $ 0.013500 in the early morning to a high of $ 0.013841 in the morning.

Tron's TRX broke the first major resistance level at $ 0.01356 and the second major resistance level at $ 0.01363.

Compared to the third major resistance level at $ 0.01383, Tron's TRX fell below $ 0.01360.

Tron's TRX found support in the broader market and rebounded to an intraday high of $ 0.013955 in the early afternoon.

Tron's TRX broke through the main resistance levels before slipping back through the resistance levels to end the day in the red.

At the time of writing, Tron's TRX rose 0.33% to $ 0.013575. After a bullish start to the day, Tron's TRX rose from an early morning low of $ 0.013524 to a high of $ 0.013575.

The Tron TRX left the most important support and resistance levels unchecked at an early stage.

For the next day

Tron's TRX would have to rise to $ 0.01366 to support a run at the first major resistance level of $ 0.01382.

Support from the broader market would, however, be required for Tron's TRX to return to a level of $ 0.01390.

Subject to an extended crypto rally, the first major resistance level would likely be Tron's TRX that day.

If you don't return to $ 0.01366, Tron's TRX could slip into the red.

A fall from the morning low of $ 0.013524 would put the first key support level at $ 0.01337 into play.

However, subject to a prolonged sell-off, Tron's TRX should outperform the second major support level at $ 0.01321.

Look at the technical indicators

Major support level: $ 0.01337

Main resistance level: $ 0.01382

23.6% FIB retracement level: $ 0.0322

38.2% FIB retracement level: $ 0.0452

62% FIB retracement level: $ 0.0663

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Thanks Bob

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