Cryptocurrency Technical Analysis Today: Technical Analysis of Litecoin (LTC), Tron (TRX) and Stellar Lumens (Crypto Price Analysis)

Technical Analysis of Litecoin (LTC)

It is no secret that Bitcoin (BTC) is the most influential digital currency in the market, and this assertion is supported by data from Diar. At the moment, there are over 1600 digital currencies in the market, and most of them are spawned from the source code of bitcoin.

According to statistics, bitcoin pairing contributes to 33% of the total trade volumes, while XRP and LTC trading contributes 2% of the total trading. This means that Litecoin (LTC) is one of the most influential digital currencies in the market.

Litecoin has lost about 32% of its value over the last few months. Nevertheless, the digital currency has found a new support after increasing by 6% in the last twenty-four hours.

Technical Analysis of Stellar Lumens

In the face of the bears, the values of Stellar Lumens are doing pretty well and buyers have been able to reverse the losses on the 24th of June. At the moment, the bears still have some presence in the market. A retest of $0.25 would provide better opportunities to sell on highs at lower time frames aim towards $0.15.

Technical Analysis of Tron (TRX)

Finally, the Mainnet of Tron (TRX) is now live, and after three weeks of testing the robustness and security of the platform, their genesis block was printed. This is indeed a great achievement for Tron, and the first one billion TRX burn will take place soon.

Before the end of next month, Tron (TRX) would be launching its TVM which is pluggable and easy to use; this means it is compatible with other distributed ledgers including EVM. Though, the Super Representative elections of Tron began yesterday.

Presently, the values of TRX are moving with extremely tight trade ranges and wavering within the high lows of June 24. However, short-term trades are not really recommended as the value is pretty unstable. It is recommended that conservative traders wait for the value of the coin to dip below $0.04 and key support level before initiating short-term trades.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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