Tron’s TRX and Stellar’s Lumen Daily Analysis – 23 August
After Sunday’s mixed sessions, top cryptocurrencies have to revisit their early highs for support to test today’s critical resistances.
Yesterday’s market moves saw Stellar’s Lumen rising by 0.27%. After a 3.45% Saturday plunge, the altcoin ended its week dropping 4.73% to hover at $0.3728.
A bullish early Sunday had Stellar’s Lumen rallying to an intraday high near $0.3895 before reverses.
Meanwhile, the token overpowered its initial crucial resistance at $0.3819 before plunging to trade around $0.3614 late afternoon lows.
With the reversals, Stellar’s Lumen breached its critical support around $0.3648 before the asset ended its intraday at $0.37.
While writing this content, Stellar’s Lumen traded at $0.3718 after losing 0.26%. However, early sessions witnessed the token rising towards early highs of $0.3749 before dropping to explore the lows levels at $0.3702.
Stellar’s Lumen’s Day Ahead
For now, the crypto will have to keep away its $0.3746 pivot to test the massive resistance located at $0.3877.
Stellar’s Lumen relies on the broader market to ensure highs break above the $0.38 mark.
Meanwhile, the resistance and Sunday’s peak at $0.3895 will cap uptrends if the market fails to sustain a broad-based rally.
With the support from the crypto space, Stellar’s Lumen will rise towards the resistance at $0.4027.
- Support – $0.3596
- Resistance – $0.3877
- 6% Fibonacci retracement – $0.3402
- 38% Fibonacci retracement – $0.4277
- 62% Fibonacci retracement – $0.5690
Sunday saw Tron’s TRX plunging by 0.84% after a 2.8% drop on Saturday. With that, the crypto ended its week at $0.08773, plummeting by 5.77%.
The early sessions yesterday had Tron’s TRX rising to an intraday high of $0.09047 before reversing.
Meanwhile, the first crucial resistance zone near $0.09040 had TRX sliding to $0.08676 lows in mid-afternoon.
The weak weekend forced saw the coin breaking beneath the support at $0.08701 to end the day around the $0.0877 mark.
While writing this content, Tron’s TRX surged 0.40% to stand at $0.08809. The digital coin did not test its critical resistance and support early on.
Tron’s TRX Day Ahead
The alternative coin will have to stay away from the pivot at $0.08798 to attempt the crucial resistance around $0.09022.
With the current situation, broader market support is essential for TRX to enjoy high rides, breaking the $0.090 mark.
- Support – $0.08548
- Resistance – $0.09022
- 6% Fibonacci retracement – $0.0787
- 2% Fibonacci retracement – $0.0989
- 62% Fibonacci retracement – $0.1316