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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/05/20

By:
Bob Mason
Published: May 25, 2020, 00:36 UTC

It's a bullish start to the day. Failure to break through key levels by late morning could see a reversal later in the day.

Crypto00 567

Litecoin

Litecoin slid by 4.08% on Sunday. Following on from a 0.77% decline on Saturday, Litecoin ended the week down by 3.75% to $42.06.

 

A bullish start to the day saw Litecoin rise to a mid-morning intraday high $44.56 before hitting reverse.

 

Coming up against the first major resistance level at $44.53, Litecoin slid to a late afternoon low $42.50.

 

Litecoin fell through the first major support level at $43.46 and second major support level at $43.04.

 

Finding support late on, Litecoin briefly recovered to $43.45 levels before a final house sell-off.

 

Litecoin slid back through the second major support level to an intraday low $42.02.

 

At the time of writing, Litecoin was up by 1.05% to $42.50. A bullish start to the day saw Litecoin rise from an early morning low $41.76 to a high $42.70

 

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

 

LTC/USD 25/05/20 Daily Chart

For the day ahead

Litecoin would need to move back through to $43 levels to bring the first major resistance level at $43.73 into play.

 

Support from the broader market would be needed, however, for Litecoin to breakout from the morning high $42.70.

 

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

 

Failure to move back through to $43 levels could see Litecoin fall back into the red.

 

A fall back through the morning low $41.76 would bring the first major support level at $41.21 into play.

 

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $40.37.

Looking at the Technical Indicators

Major Support Level: $41.21

Major Resistance Level: $43.73

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 4.74% on Sunday. Following on from a 1.28% loss on Saturday, Stellar’s Lumen ended the week down by 7.04% to $0.064001.

 

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.068167 before hitting reverse.

 

Falling short of the first major resistance level at $0.06856 Stellar’s Lumen fell to a late afternoon low $0.065418.

 

The reversal saw Stellar’s Lumen fall through the first major support level at $0.06629 before briefly recovering to $0.066 levels.

 

A final hour sell-off, however, saw Stellar’s Lumen slide to an intraday low $0.063814. Stellar’s Lumen slid through the first major support level at $0.06629 and second major support level at $0.06537.

 

At the time of writing, Stellar’s Lumen was up by 1.18% to $0.064755. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.063783 to a high $0.064896.

 

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

 

XLM/USD 25/05/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to move back through to $0.06530 levels to bring the first major resistance level at $0.06684 into play.

 

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.064896.

 

Barring a broad-based crypto rebound, the first major resistance level and Sunday’s high $0.068167 would likely limit any upside.

 

Failure to move through to $0.06530 levels could see Stellar’s Lumen hit reverse.

 

A fall through to sub-$0.064 levels would bring the first major support level at $0.06249 into play.

 

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06097.

Looking at the Technical Indicators

 Major Support Level: $0.06249

Major Resistance Level: $0.06684

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 slid by 5.15% on Sunday. Reversing a 0.95% gain from Saturday, Tron’s TRX ended the week down by 5.43% to $0.014200.

A bullish start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.015300 before hitting reverse.

Falling short of the first major resistance level at $0.01546, Tron’s TRX fell to a late afternoon low $0.014464.

Tron’s TRX fell through the first major support level at $0.01469 before briefly recovering to $0.01470 levels.

A late sell-off, however, saw Tron’s TRX slide to an intraday low $0.014200. Tron’s TRX fell through the first major support level at $0.01469 and second major support level at $0.01438.

At the time of writing, Tron’s TRX was up by 1.80% to $0.014456. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.014117 to a high $0.014456.

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

TRX/USD 25/05/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to move back through to $0.01460 levels to support a run at the first major resistance level at $0.01493.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014456.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to move through to $0.01460 levels could see Tron’s TRX hit reverse.

A fall through the morning low $0.014117 would bring the first major support level at $0.01383 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.014 levels.

Looking at the Technical Indicators

 Major Support Level: $0.01383

Major Resistance Level: $0.01493

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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