Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/05/19

Bitcoin Cash – ABC – Hits $300

Bitcoin Cash ABC rallied by 7.64% on Friday. Reversing a 1.04% fall from Thursday, Bitcoin Cash ABC ended the day at $286.91.

In the early hours, Bitcoin Cash ABC rose from an intraday low $265.54 to an early morning high $270.83 before easing back.

Bitcoin Cash ABC left the major support and resistance levels untested ahead of a late morning rally.

The late morning rally saw Bitcoin Cash ABC strike an intraday high $307 before easing back to sub-$290 levels. Bitcoin Cash ABC broke through the major resistance levels and 23.6% FIB Retracement Level of $291 before pullback back through the 23.6% FIB and third major resistance level at $295.35.

At the time of writing, Bitcoin Cash ABC up 4.34% to $299.35. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $292.78 to a high $302.82 before easing back.

The early rally saw Bitcoin Cash ABC break through the 23.6% FIB of $291, whilst coming up short of the major resistance levels.

For the day ahead, a move back through to $300 levels would support another run at the first major resistance level at $307.43. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from the morning high $302.82.

Barring another broad-based crypto rally, Bitcoin Cash ABC would likely come up short $310 levels on the day. Failure to move back through to $300 levels could see Bitcoin Cash ABC give up the morning gains. A slide back through to $286 levels would bring $270 levels into play before any recovery.

Barring a crypto meltdown, however, Bitcoin Cash ABC, Bitcoin Cash ABC would likely steer clear of sub-$280 on the day.

Litecoin Hits $80

Litecoin jumped by 7.65% on Friday. Following a 0.48% fall on Thursday, Litecoin ended the day at $77.72.

Tracking the broader market, Litecoin rallied from a start of a day intraday low $71.94 to a late morning intraday high $79.87.

The late morning rally saw Litecoin break through the major resistance levels and hold above the third major resistance level at $76.39 throughout the day.

At the time of writing, Litecoin was up by 2.97% to $80.03. A bullish start to the day saw Litecoin rally from a morning low $77.61 to a high $80.75 before easing back.

In spite of the early rally, Litecoin left the day’s major support and resistance levels untested.

For the day ahead, a hold above $78 levels through the morning would support a run at the first major resistance level at $81.08.

Litecoin would need support from the broader market, however, to break out from $80 levels on the day. In the event of another crypto rally, a rally from the first major resistance level would bring the 38.2% FIB of $83 into play later in the day.

Failure to hold above $78 levels could see Litecoin hit reverse. A fall through to $76 50 levels would bring the first major resistance level at $73.15 into play.

Barring a broad-based crypto sell-off, however, Litecoin would likely steer clear of sub-$76 levels on the day.

Ripple Continues to Lag the Majors

Ripple’s XRP rose by 1.89% on Friday. Reversing a 0.60% fall from Thursday, Ripple’s XRP ended the day at $0.32134.

A choppy start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.31228 before finding support.

The reversal saw Ripple’s XRP call on support at the first major support level at $0.3123. A late morning rally saw Ripple’s XRP bounce back to an intraday high $0.3267. Ripple’s XRP broke through the first major resistance level at $0.3203 and second major resistance level at $0.3252.

A pullback saw Ripple’s XRP fall to an afternoon low $0.31879 before recovering to $0.32 levels.

At the time of writing, Ripple’s XRP was up by 0.47% to $0.32286. Ripple’s XRP rise from a morning low $0.32102 to a high $0.325 before easing back early on.

Trailing the broader markets, Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move back through to $0.3245 levels would bring the first major resistance level at $0.3279 into play. Support from the broader market would be needed, however, to give Ripple’s XRP a run at $0.33 levels.

Failure to move back through to $0.3245 levels could see Ripple’s XRP hit reverse. A fall through the morning low to $0.3200 levels would bring the first major support level at $0.3135 into play.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.31 levels on the day.

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Thanks, Bob