For the day ahead
Stellar’s Lumen would need to move back through pivot level at $0.4562 to bring the first major resistance level at $0.5323 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break out the 23.6% FIB of $0.4713.
Barring an extended crypto rally, the first major resistance level and would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.55. The second major resistance level sits at $0.6012.
Failure to move back through the $0.4562 pivot would bring the first major support level at $0.3873 and the 38.2% FIB of $0.3864 back into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.3112.
Looking at the Technical Indicators
First Major Support Level: $0.3873
First Major Resistance Level: $0.5323
23.6% FIB Retracement Level: $0.3426
38% FIB Retracement Level: $0.2823
62% FIB Retracement Level: $0.1850
Tron’s TRX
Tron’s TRX slid by 9.40% on Monday. Reversing a 3.80% gain from Sunday, Tron’s TRX ended the day at $0.05417.
A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.05987 before hitting reverse.
Falling short of the first major resistance level at $0.06225, Tron’s TRX slid to an early afternoon intraday low $0.04550.
The sell-off saw Tron’s TRX slide through the day’s major support levels.
Steering clear of the 38.2% FIB of $0.0428, Tron’s TRX revisited $0.055 levels before easing back.
The partial recovery saw Tron’s TRX break back through the third major support level at $0.04809 and the second major support level at $0.05363.
At the time of writing, Tron’s TRX was down by 2.73 % to $0.05270. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05474 before falling to a low $0.05204.
Tron’s TRX left the major support and resistance levels untested early on.
Source: fxempire.com
