For the day ahead
Stellar’s Lumen would need to avoid the $0.3525 pivot to bring the first major resistance level at $0.3805 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s and this morning’s high $0.3677.
Barring an extended rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 before any pullback. The second major resistance level sits at $0.3957.
A fall through the $0.3525 pivot would bring the first major support level at $0.3373 and the 62% FIB of $0.3216 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3093 should limit the downside.
A sustained fall through the 62% FIB of $0.3216 would form a near-term bearish trend from 16th May’s swing hi $0.7978.
Looking at the Technical Indicators
First Major Support Level: $0.3373
First Major Resistance Level: $0.3805
23.6% FIB Retracement Level: $0.6160
38% FIB Retracement Level: $0.5035
62% FIB Retracement Level: $0.3216
Tron’s TRX rose by 4.21 on Wednesday. Following a 1.37% gain on Tuesday, Tron’s TRX ended the day at $0.07555.
A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.06986 before making a move.
Steering clear of the first major support level at $0.06852, Tron’s TRX rose to a late intraday high $0.07555.
Tron’s TRX broke through the 62% FIB of $0.07480 and the first major resistance level at $0.07500 to end the day at $0.0755 levels.
At the time of writing, Tron’s TRX was down by 0.74% to $0.07499. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.07595 before falling to a low $0.07442.
While leaving the major support and resistance levels untested, Tron’s TRX tested support at the 62% FIB of $0.07480 early on.