FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Golden bitcoins on the black background closeup. Cryptocurrency virtual money

Bitcoin Cash – ABC – Avoids another Tumble

Bitcoin Cash ABC rose by 0.71% on Sunday. Partially reversing a 3.23% slide on Saturday, Bitcoin Cash ABC ended the week up 7.22% at $215.52.

A bearish start to the day saw Bitcoin Cash ABC slide to a late morning intraday low $209.95 before finding support.

Advertisement
Know where Bitcoin is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Bitcoin Cash ABC fell through the first major support level at $212.75. Bitcoin Cash ABC came within range of the second major support level at $209.28 before making a move.

The bounce-back saw Bitcoin Cash ABC rise to an early afternoon intraday high $217.11 before easing back to $215 levels.

In spite of the early afternoon rebound, Bitcoin Cash ABC came up short of the first major resistance level at $221.94.

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$214.20 levels to support further gains.

A move through Sunday’s high $217.11 would bring the first major resistance level at $218.44 into play.

Barring a broad-based crypto rebound, however, Bitcoin Cash ABC would likely fall short of $220 for a 2nd consecutive day.

Failure to steer clear of sub-$214.2 levels would bring the first major support level at $211.28 into play before any recovery.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $207.03.

Advertisement

Litecoin Finds Support

Litecoin rose by 1.29% on Sunday. Partially reversing a 2.86% slide from Saturday, Litecoin ended the week up by 8.90% to $47.85.

A particularly bearish start to the day saw Litecoin slide to an early morning intraday low $45.51 before finding support.

Litecoin fell through the first major support level at $46.37 to come within range of the second major support level at $45.48.

Recovering through the late morning, Litecoin struck an early afternoon intraday high $48.44.

Coming up against the first major resistance level at $48.49, Litecoin slipped back to $47 levels.

Support late in the day, however, delivered the upside on the day.

At the time of writing, Litecoin was down by 0.21% to $47.40. A mixed start to the day saw Litecoin fall from an early morning high $47.64 to a low $47.07 before finding support.

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

For the day ahead, a move back through the morning high $47.64 would bring the first major resistance level at $49.02 into play.

Litecoin would need the support of the broader market to break out from Sunday’s high $48.44.

Barring a broad-based crypto rally, however, Litecoin would likely come up short of $49 levels on the day.

Failure to move back through the morning high could see Litecoin slide deeper into the red.

A fall through to $47.20 levels would bring the first major support level at $46.37 into play before any recovery.

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$45 support levels.

Ripple’s XRP Holds Steady

Ripple’s XRP fell by 0.18% on Sunday. Following on from a 2.19% slide on Saturday, Ripple’s XRP ended the week up by 1.97% to $0.22630.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.21991 before finding support.

Falling through the first major support level at $0.2232, Ripple’s XRP found support at the second major support level at $0.2198.

Recovering through the late Ripple’s XRP broke back through the first major support level to an early afternoon high $0.22641.

Falling short of the major resistance levels, however, Ripple’s XRP fell back to $0.221 levels before striking a late intraday high $0.22688.

In spite of the 2nd breakout, Ripple’s XRP fell well short of the first major resistance level at $0.2318.

At the time of writing, Ripple’s XRP was down by 0.24% to $0.22576. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.22767 to a low $0.22480.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move back through the morning high would bring the first major resistance level at $0.2288 into play.

Ripple’s XRP would need to steer clear of sub-$0.2250 levels, however, to support a move back into positive territory.

Barring a broad-based crypto rebound on the day, Ripple’s XRP would likely fall short of $0.23 levels for a 2nd consecutive day.

Failure to steer clear of sub-$0.2250 levels would bring the first major support level at $0.2219 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2174.

Please let us know what you think in the comments below

Thanks, Bob

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker