Litecoin, Stellars Lumen and Trons TRX – Daily Analysis – 26/12/19

Litecoin

Litecoin fell 0.62% on Wednesday. After a 0.59% decline on Tuesday, Litecoin ended the day at $ 40.08.

A bearish start to the day caused Litecoin to drop from an early morning high of $ 40.38 to a late intraday low of $ 39.36.

Litecoin broke away from major resistance levels and fell through the first major support level at $ 39.50 before hitting a daily high of $ 40.39 during the day.

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At the time of writing, Litecoin was down 0.6% to $ 39.84. A bearish start to the day caused Litecoin to drop from an early morning high of $ 40.13 to a low of $ 39.76.

Litecoin left the most important support and resistance levels unchecked at an early stage.

For the next day

Litecoin would have to return to $ 40.00 to support a run at the first major resistance level at $ 40.53.

Litecoin would need broader market support to break out of the high of $ 40.13 in the morning.

Aside from a crypto rally, the first major resistance at $ 40.53 and the high of $ 40.39 on Wednesday would likely limit an upward trend.

If you don't return to $ 40.00, Litecoin could slide deeper into the red area.

A fall from the morning low of $ 39.76 would put the first key support level at $ 39.50 into play.

However, subject to a prolonged sell-off, Litecoin should leave the second major support level at $ 38.91.

Look at the technical indicators

Major support level: $ 39.50

Main resistance level: $ 40.53

23.6% FIB retracement level: $ 62

38.2% FIB retracement level: $ 78

62% FIB retracement level: $ 104

Stellar's lumen

Stellar's lumen fell 1.17% on Wednesday. Stellar's lumen ended the day up 0.24% from Tuesday at $ 0.044534.

A bullish start to the day caused Stellar's lumen to hit an intraday high of $ 0.045080 in the early morning before going into reverse.

Stellar's lumen fell to an afternoon intraday low of $ 0.044037 and remained below the first major resistance level of $ 0.04565.

Stellar's lumen fell through the first major support level at $ 0.04461 and the second major support level at $ 0.04413 before finding support.

Towards the end of the day, Stellar's lumen broke through the main support levels before breaking through the first main support level.

At the time of writing, Stellar's lumen decreased 0.33% to $ 0.044388. A bearish start to the day caused Stellar's lumen to drop to an early low of $ 0.044284 before falling to a high of $ 0.044388

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

For the next day

Stellar's lumen would have to rise to $ 0.04455 to support a run at the first major resistance level of $ 0.04506.

However, support from the broader market would be needed for Stellar's lumens to break through to $ 0.045.

Subject to a broad crypto rally, the first major resistance level at $ 0.04506 would likely disrupt Stellar's lumens that day.

If Stellar's lumen doesn't rise to $ 0.04455, it could slide deeper into the red.

A morning low of $ 0.044284 would bring the first key support level at $ 0.04402 into play.

Aside from a crypto meltdown, however, Stellar's lumen should leave the second key support level at $ 0.04351.

Look at the technical indicators

Major support level: $ 0.04402

Main resistance level: $ 0.04506

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 2.22% on Wednesday. After falling 1.15% on Tuesday, Tron's TRX ended the day at $ 0.013282.

A bearish start to the day saw Tron's TRX fall from an intraday high of $ 0.013601 in the early morning to an intraday low of $ 0.013043 in the late afternoon.

Tron's TRX broke away from the high resistance levels and fell through the first large support level at $ 0.01328.

Tron's TRX found late support and rebounded to $ 0.01340 before falling back. The first major level of support limited the disadvantage of the day.

At the time of writing, Tron's TRX had fallen 0.44% to $ 0.013224. A bearish start to the day caused Tron's TRX to drop from an early morning high of $ 0.013234 to a low of $ 0.013224.

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

For the next day

Tron's TRX should rise to $ 0.01330 to support a run at the first major resistance level at $ 0.01387.

Support from the broader market would, however, be needed for Tron's TRX to break out of its $ 0.013234 morning high.

Except for a broad-based crypto rally, Tron's TRX would likely be less than $ 0.014 due to the first major resistance level.

If the price doesn't rise to $ 0.01330, Tron's TRX could fall deeper into the red.

Falling below $ 0.01315 would put the first key support level at $ 0.013020 into play.

However, subject to a prolonged sell-off, Tron's TRX should outperform the second key support level at $ 0.01275.

Look at the technical indicators

Major support level: $ 0.01302

Main resistance level: $ 0.01387

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

This article was originally published on FX Empire

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