Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/02/19

It’s a mixed start to the day. Litecoin makes an early move, looking to recover Sunday’s losses, with Ripple’s XRP loses more ground.
Bob Mason
Altcoins
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Slides Back

Bitcoin Cash ABC fell by 2.44% on Sunday. Partially reversing Saturday’s 4.51% gain, Bitcoin Cash ABC ended the day at $116.83.

Through the day, Bitcoin Cash ABC struck a mid-morning intraday high $120.32 before hitting reverse.

Bitcoin Cash ABC fell to a late in the day intraday low $115.39 before finding support. Bitcoin Cash ABC fell through the first major support level at $116.16 before a partial recovery. The start of a day intraday high fell short of the first major resistance level at $122.32.

For the week, Bitcoin Cash ABC ended the week with a 2.89% loss, with most of the damage coming from a 7% slide at the start of the week.

At the time of writing, Bitcoin Cash ABC up by 0.6% to $117.54. Rising from an end of Sunday $116.83 to $117.54, Bitcoin Cash ABC left the major support and resistance levels untested.

For the day ahead, Bitcoin Cash ABC would need to hold above $117.50 to bring $118 levels into play. Support from the broader market would be needed for Bitcoin Cash ABC to take a run at $119 levels and the first major resistance level at $119.64. Bitcoin Cash ABC will likely fall short of $120 levels on the day.

Failure to hold above $117.5 could see Bitcoin Cash ABC hit reverse later in the day. A fall through to $116 levels would likely see Bitcoin Cash ABC slide to $115 levels to bring the first major support level at $114.71 into play. Bitcoin Cash ABC will likely avoid heavier losses in the event of a reversal.

Litecoin Loses Ground

Litecoin fell by 3.83% on Sunday. Partially reversing a 5.69% rise from Saturday, Litecoin ended the day at $32.87.

Tracking the broader market, Litecoin rose to an early morning intraday high $34.58 before hitting reverse. Falling short of the first major resistance level at $34.84, Litecoin fell through the first major support level at $32.85 to a mid-afternoon intraday low $32.47.

Finding support late in the day, Litecoin moved back through to $33 levels to limit the damage, whilst the day’s losses cut Litecoin’s weekly gain to 2.65%.

At the time of writing, Litecoin was up by 1.4% to $33.33. A bullish start to the day saw Litecoin rise from a morning low S32.87 to a high $33.61. While making ground early on, Litecoin left the major support and resistance levels untested.

For the day ahead, a move back through the morning high would bring $34 levels and the first major resistance level at $34.14. into play. Support from the broader market would be needed for Litecoin, however, for Litecoin to breakout and bring $35 levels into play.

Failure to move back through the morning high could see Litecoin hit reverse. A fall through $33.30 could see Litecoin fall back through the morning low $32.87, to bring the first major support level at $32.03 into play.  Litecoin will likely steer clear of sub-$32 levels in the event of a crypto sell-off.

 

Ripple Holds onto $0.30 Levels

Ripple’s XRP slid by 3.14% on Sunday. Reversing a 1.01% gain from Saturday, Ripple’s XRP ended the week down 1.32% at $0.3059.

A start of a day intraday high $0.31768 came up short of the day’s first major resistance level at $0.3206 before Ripple’s XRP hit reverse.

Sliding through the day, Ripple’s XRP fell through the first major support level at $0.3091 to an intraday low $0.30115. Ripple’s XRP found support at the second major support level at $0.3026 to move back through to $0.3050 levels by the day’s end.

At the time of writing, Ripple’s XRP was down by 0.57% to $0.30415. Ripple’s XRP rose to a start of a day morning high $0.30629 before falling to a morning low $0.30404. Moves through the morning left the day’s major support and resistance levels untested.

For the day ahead, a move through the morning high $0.30629 to $0.3090 levels would support a run at the first major resistance level at $0.3153. Ripple’s XRP would require support from the broader market, however, to take a run at $0.32 levels. In the event of a broad-based crypto rally, we would expect Ripple’s XRP to come up short of the second major resistance level at $0.3248.

Failure to move through the morning high could see Ripple’s XRP fall deeper into the red. A pullback through the morning low $0.30404 would likely bring the first major support level at $0.2988 into play before any recovery. Ripple’s XRP will likely steer clear of $0.28 levels, with the second major support level at $0.2917 there to prevent heavier losses on the day.

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