Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/10/19

It’s another choppy day ahead as Ripple’s XRP looks to buck the trend…
Bob Mason
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin Cash – ABC – Bucks the Trend Early

Bitcoin Cash ABC fell by 0.1% on Thursday. Partially reversing a 0.45% gain from Wednesday, Bitcoin Cash ABC ended the day at $223.29.

A choppy start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $225.28 before hitting reverse.

Falling short of the first major resistance level at $226.15, Bitcoin Cash ABC slid to a late afternoon intraday low $216.87.

The sell-off saw Bitcoin Cash ABC fall through the first major support level at $222.36 and second major support level at $219.84.

Late in the day, Bitcoin Cash ABC found support to move back through to $220 levels to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was down by 0.99% to $221.08. A bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $223.13 to a low $217.87.

Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $218.35 before finding support.

For the day ahead, a move back through to $221.80 levels would support a rebound later in the day.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $223.13.

Barring a broad-based crypto rebound, the first major resistance level at $226.76 would likely cap any upside.

Failure to move back through to $221.80 levels could see Bitcoin Cash ABC fall deeper into the red. A fall back through the first major support level could see Bitcoin Cash ABC test the second major support level at $213.4.

Litecoin in the Red again

Litecoin rose by 0.02% on Thursday. Following a 1.07% gain from Wednesday, Litecoin ended the day at $56.44.

Tracking the broader market, Litecoin slid from an early morning high $56.61 to an early afternoon intraday low $53.62.

Litecoin fell through the first major support level at $55.56 and second major support level at $54.68

Holding above the third major support level at $53.23, Litecoin recovered to a late intraday high $57.05.

The late break out saw Litecoin come up against the first major resistance level at $57.01 before easing back in the final hour.

At the time of writing, Litecoin was down by 0.51% to 56.15. A bearish start to the day saw Litecoin slide from an early morning high $56.68 to a mid-morning low $55.24.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a hold onto $56 levels through the morning would support another run at $57 levels.

Litecoin would need the support of the broader market, however, to break through the first major resistance level at $57.79.

Failure to hold onto $56 levels could see Litecoin slide back to $54 levels before any recovery.

Barring an extended sell-off, the first major support level at $54.36 should limit the downside on the day.

Ripple’s XRP Gives up on $0.25

Ripple’s XRP fell by 2.61% on Thursday. Reversing a 2.03% rise from Wednesday, Ripple’s XRP ended the day at $0.24767.

Tracking the broader market through the morning, Ripple’s XRP slid from an early morning intraday high $0.25472 to an early afternoon intraday low $0.24250.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2487 and the second major support level at $0.2435.

Through the 2nd half of the day, Ripple’s XRP managed to break back through the second major support level.

Bearish sentiment, however, left Ripple’s XRP at sub-$0.25 levels on the day.

At the time of writing, Ripple’s XRP was up by 0.21% to $0.24820. A mixed start to the day saw Ripple’s XRP strike an early morning high $0.25036 before falling to a low $0.24529.

Steering clear of the major support and resistance levels, Ripple’s XRP found support to move back into the green.

For the day ahead, a move back through to $0.2490 levels would support a run at the first major resistance level at $0.2541.

A shift in sentiment across the broader market would be needed, however, for Ripple’s XRP to take a run at Thursday’s high $0.25472.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.26 levels for a 3rd consecutive day.

Failure to move back through to $0.2490 levels could see Ripple’s XRP hit reverse. A fall back through the morning low $0.24529 would bring the first major support level at $0.2419 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.24 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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