Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/09/19

It’s back into the red for the majors. Late morning moves through to key levels would deliver another solid day for the pack.
Bob Mason
Cryptomania

Bitcoin Cash – ABC – Back in the Red

Bitcoin Cash ABC rose by 1.97% on Tuesday. Following on from a 4.95% rally on Monday, Bitcoin Cash ABC ended the day at $299.85.

A bullish start to the day saw Bitcoin Cash ABC rise from an early morning intraday low $293.21 to a morning high $298.77.

Falling short of the first major resistance level at $299.57, Bitcoin Cash ABC eased back to $294 levels before making a move.

Finding support from the broader market, Bitcoin Cash ABC rallied to a late afternoon intraday high $305.87. Bitcoin Cash ABC broke through the first major resistance level at $298.77 and second major resistance level at $304.33.

The first visit to $300 levels since 28th August was short-lived, however, with Bitcoin Cash ABC easing back late in the day.

At the time of writing, Bitcoin Cash ABC was down by 0.95% to $297.01. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $302.02 before falling to a low $296.97.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, a move back through to $300 levels would bring the first major resistance level at $306.08 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $300 levels.

Barring a broad-based crypto rally, Tuesday’s high $305.87 and first major resistance level at $306.08 would likely cap any upside.

Failure to move back through to $300 levels would likely see Bitcoin Cash ABC struggle through the day.

A fall through to $295 levels would bring the first major support level at $293.42 into play. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 support levels.

Litecoin back at sub-$70

Litecoin rallied by 5.27% on Tuesday. Following on from a 1.65% gain on Monday, Litecoin ended the day at $70.74.

A bearish start to the day saw Litecoin fall to an early morning intraday low $66.63 before finding support.

Steering clear of the first major support level at $65.45, Litecoin rallied to a late morning high $70.2.

The morning rally saw Litecoin break through the first major resistance level at $68.58. The second major resistance level at $69.96 pinned Litecoin back early on.

Easing back through the afternoon, Litecoin fell to $68 levels before a late rally. Litecoin broke back through the second major resistance level at $69.96 to hit an intraday high $71.0.

At the time of writing, Litecoin was down by 1.27% to $68.24. Tuesday’s late pullback continued into the early hours. Litecoin fell from a start of a day high $69.36 to a low $67.8.

Steering clear of the major support levels, Litecoin tested the first major support level at $67.91 early in the day.

For the day ahead, a move back through the morning high $69.36 to $69.5 levels would support a return to $70 levels.

Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $72.28.

Failure to move through to $69.5 levels could see Litecoin slide back through the first major support level at $67.91.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$66 support levels on the day.

Ripple’s XRP Stuck at $0.26 Levels

Ripple’s XRP rose by 0.69% on Tuesday. Following on from a 1.74% gain from Monday, Ripple’s XRP ended the day at $0.26347.

A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.2586.

Steering clear of the first major support level at $0.2553, Ripple’s XRP rallied to an early afternoon intraday high $0.26732.

Ripple’s XRP broke through the first major resistance level at $0.2664 before pulling back to $0.262 levels.

Finding support from the broader market, Ripple’s XRP managed to return to $0.265 levels before falling back to $0.263 levels.

At the time of writing, Ripple’s XRP was down by 0.4% to $0.26242. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.26346 to a low $0.26143.

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

For the day ahead, a move back through to $0.26320 levels would support another run at the first major resistance level at $0.2677.

Ripple’s XRP would need the support of the broader market, however, to break out from Tuesday’s high $0.26732.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.267 levels on the day.

Failure to move back through to $0.26320 levels could see Ripple’s XRP take a dive. A fall through the morning low $0.26142 would bring the first major support level at $0.2589 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2544.

Please let us know what you think in the comments below

Thanks, Bob

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