Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/03/19

Bitcoin Cash – ABC – Hits Reverse

Bitcoin Cash ABC fell by 1.4% on Sunday. Reversing a 1.21% gain from Friday, Bitcoin Cash ABC ended the week up 1.31% to $128.67.

An early morning move to an intraday high $130.5 saw Bitcoin Cash ABC fall short of the first major resistance level at $131.79 before hitting reverse.

A late pullback saw Bitcoin Cash ABC fall to an intraday low $128.67. Bitcoin Cash ABC held above the first major support level at $127.60 in spite of the pullback.

At the time of writing, Bitcoin Cash ABC was down 4.17% to $123.3. A particularly bearish start to the day saw Bitcoin Cash ABC slide to a morning low $120.64 before finding support. The reversal saw Bitcoin Cash ABC fall through the day’s major support levels.

For the day ahead, a move back through a morning high $128.99 to $129.30 levels would be needed to signal an afternoon rally. While Bitcoin Cash ABC may test the first major resistance level at $129.89, we would expect $130 levels to be avoided on the day.

Failure to move through to $129 levels could see Bitcoin Cash ABC ease back later in the day. A fall back through the morning low $120.64 would bring $118 levels into play before any recovery.

Bitcoin Cash ABC was last at sub-$120 levels on 17^th February…

Litecoin Joins the Pack

Litecoin fell by 1.58% on Sunday. Partially reversing a 3.08% gain from Saturday, Litecoin ended the week up 9% to $47.49.

A start of a day intraday high $48.73 was the only bullish move of the day. Litecoin fell short of the first major resistance level at $49.44 before easing back.

Tracking the broader market, Litecoin fell to a late intraday low $46.78 before finding support. The pullback saw Litecoin test the day’s first major support level at $46.74.

At the time of writing, Litecoin was down by 3.12% to $46.01. Litecoin fell from a morning high $48 to a low $45.15. Litecoin tumbled through the first major support level at $46.6 and second major support level at $45.72. In spite of the broad-based sell-off, Litecoin managed to recover to $46 levels.

For the day ahead, a move back through $47.70 levels would be needed to signal an afternoon rebound. Support from the broader-market could give Litecoin another run at $48 levels and the first major resistance level at $48.55.

In the event of a rebound, we would expect Litecoin to continue to come up short of $50 levels on the day.

Failure to move through to $47.70 levels would likely leave Litecoin deep in the red on the day. A fall back through to $45 levels and the second major support level at $45.72 could bring $44 levels into play.

Barring a crypto meltdown, we would expect Litecoin to hold above last week’s low $43.2.

Ripple Struggles On

Ripple’s XRP fell by 1.16% on Sunday. Following on from a 0.59% decline on Saturday, Ripple’s XRP ended the week up 4.49% to $0.31756.

A start of a day intraday high $0.32299 saw Ripple’s XRP come up short of the first major resistance level at $0.3255.

Hitting reverse through the morning, Ripple’s XRP fell to an early afternoon intraday low $0.31398. The pullback saw Ripple’s XRP fall through the first major support level at $0.3171 before finding support.

Ripple’s XRP managed to move back through the first major support level before testing the major support for a second time late in the day.

At the time of writing, Ripple’s XRP was down by 2.05% to $0.31106. A start of a day intraday high $0.31914 came up short of the first major resistance level at $0.3224 before hitting reverse.

Ripple’s XRP fell to a mid-morning intraday low $0.30722 before recovering to $0.31 levels. Bitcoin fell through the first major support level at $0.3134 and second major support level at $0.3092 on the way down.

For the day ahead, a move back through to $0.3180 levels would signal a run at the first major resistance level at $0.3224. Ripple’s XRP would need support from the broader market to take a run at the second major resistance level at $0.3272. We would expect Ripple’s XRP to be pinned back by Sunday’s high $0.32299 to leave $0.33 levels off the table.

Failure to move through to $0.3180 levels could see Ripple’s XRP take a bigger hit later in the day. A fall back through to $0.30 levels would bring the second major support level at $0.3092 back into play before any recovery.

We would expect sub-$0.30 support levels to be left untested on the day.

Buy & Sell Cryptocurrency Instantly