Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/06/19

Bitcoin Cash – ABC – Tanks

Bitcoin Cash ABC tumbled by 9.08% on Monday. Reversing last week’s 1.83% gain with interest, Bitcoin Cash ABC ended the day at $403.0.

A choppy start to the day saw Bitcoin Cash ABC rise to an early intraday high $446.31 before hitting reverse.

Falling short of the major resistance levels, Bitcoin Cash ABC slid to an early afternoon low $417.81.

The reversal saw Bitcoin Cash ABC fall through the first major support level at $434.53 and second major support level at $425.80.

A brief return to $420 levels was short-lived, with Bitcoin Cash ABC sliding to a late intraday low $395.0.

Bitcoin Cash ABC slid through the third major support level at $409.34 to come within range of the 23.6% FIB of $393 before recovering to $400 levels.

At the time of writing, Bitcoin Cash ABC was down 2.31% to $393.71. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $403 to a low $376 before finding support.

Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $383.16 early on.

For the day ahead, a move back through to $400 levels would signal a recovery of the early losses.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the major resistance levels.

Bitcoin Cash ABC would need to move through to $415 levels to take a run at the first major resistance level at $434.69.

Failure to move back through to $400 levels could see Bitcoin Cash ABC slide back later in the day. A pullback through the first major support level at $383.16 would bring $370 levels back into play.

Litecoin Avoids sub-$100

Litecoin fell by 7.68% on Monday. Reversing a 1.8% increase from the previous week, Litecoin ended the day at $105.87.

A mixed start to the day saw Litecoin fall from an early intraday high $116.11 to a mid-morning low $109.

Litecoin fell through the first major support level to test the second major support level at $109.62.

Litecoin recovered to $113 levels before easing back through the afternoon. A late crypto sell-off did the damage on the day. Litecoin slid to a late intraday low $104.59 before finding support.

The reversal saw Litecoin fall through the second major support level at $109.62 and third major support level at $104.87.

At the time of writing, Litecoin was down by 0.93% to $104.89. Tracking the broader market, Litecoin slid from a morning high $106.34 to a low $101.02.

Litecoin tested the first major support level at $101.60 early on.

For the day ahead, a move through the morning high to $109 levels would bring the first major resistance level at $113.12 into play.

Litecoin would need support from the broader market, however, to break out from this morning’s high $106.34.

Failure to recover the early losses could see Litecoin fall further into the red. A fall through the first major support level at $101.60 could bring $100 levels into play before any recovery.

Barring another crypto meltdown, Litecoin would likely avoid sub-$100 levels.

Ripple Touches sub-$0.40

Ripple’s XRP fell by 6.28% on Monday. Partially reversing an 8.6% gain from last week, Ripple’s XRP ended the day at $0.41676.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.46582 before hitting reverse.

The early rally saw Ripple’s XRP break through the first major resistance level at $0.4522 and second major resistance level at $0.4599.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4322 to a morning low $0.42885.

Ripple’s XRP managed to move back through to $0.44 levels before a late crypto sell-off. Ripple’s XRP fell through the first major support level at $0.4322 and second major support level at $0.4198 to an intraday low $0.41575.

At the time of writing, Ripple’s XRP was down 0.69% to $0.41390.

Moves in the early hours saw Ripple’s XRP slide from a morning high $0.41708 to a low $0.39315 before steadying.

Ripple’s XRP fell through the first major support level at $0.3997 in the early hours.

For the day ahead, a hold onto $0.40 levels through the morning would support a move back through to $0.42 levels.

Ripple’s XRP would need support from the broader market, however, to take a run at the major resistance levels. Ripple’s XRP would need to move through to $0.4350 levels to support a run at the first major resistance level at $0.4498.

Failure to hold onto $0.40 levels could see Ripple’s XRP slide back through the first major support level at $0.3997.

Barring another crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.39 levels on the day.

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Thanks, Bob