Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/11/19

While it’s a bearish start to the morning, a rebound could be on the cards following Sunday’s late support.
Bob Mason
Depositphotos_166797044_s-2019

Bitcoin Cash – ABC – Hits Reverse

Bitcoin Cash ABC rose by 0.83% on Sunday. Following on from a 3.73% rally from Saturday, Bitcoin Cash ABC ended the week up 11.57% to $293.59.

A particularly bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $304.03 before hitting reverse.

Bitcoin Cash ABC broke through the first major resistance level at $296.86 to come up against the second major resistance level at $304.56.

Hitting reverse through the morning, Bitcoin Cash ABC slid to a late morning low $283.52 before finding support.

Holding above the first major support level at $279.64, Bitcoin Cash ABC recovered to $289 levels before an afternoon pullback.

The pullback saw Bitcoin Cash ABC fall to an early afternoon intraday low $283 before making a move.

Steering clear of the major support levels, Bitcoin Cash ABC recovered to $293 levels to close out the day in the green.

At the time of writing, Bitcoin Cash ABC was down by 1.97% to $287.81. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $293.36 to a low $287.81.

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

For the day ahead, Bitcoin Cash ABC would need to move back through to $293 levels to bring the first major resistance level at $304.08 into play.

Support from the broader market would be needed for Bitcoin Cash ABC to break out from $293 levels.

Barring a broad-based crypto rebound later in the day, however, Bitcoin Cash ABC would likely fall well short of $300 levels.

Failure to move back through to $293 levels could see Bitcoin Cash ABC struggle through the day.

A fall back to $285 levels would bring the first major support level at $283.05 into play before any recovery.

Barring an extended sell-off throughout the day, Bitcoin Cash ABC should steer clear of sub-$280 levels.

Litecoin Holds onto $58

Litecoin fell by 0.07% on Sunday. Reversing a 0.05% gain from Saturday, Litecoin ended the week down 2.62% at $58.34.

A bullish start to the day saw Litecoin rise to an early morning intraday high $58.80 before hitting reverse.

Falling short of the first major resistance level at $59.29, Litecoin fell to a late morning intraday low $57.29.

The sell-off saw Litecoin fall through the first major support level at $57.72 before finding support.

Finding support through the afternoon, Litecoin returned to $58.7 levels before easing back in the final hour.

At the time of writing, Litecoin was down by 0.05% to $58.31. A mixed start to the day saw Litecoin fall from an early morning high $58.62 to a low $58.04 before finding support.

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

For the day ahead, Litecoin would need to steer clear of sub-$58.20 levels to support a run at the first major resistance level at $59.00.

Litecoin would need the support of the broader market, however, to break out from Sunday’s high $58.80.

Barring a broad-based crypto rebound later in the day, Sunday’s high and first major resistance level would likely limit any upside.

A fall through to sub-$58.20 levels would bring the first major support level at $57.49 into play.

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$57 levels.

Ripple’s XRP Visits sub-$0.29

Ripple’s XRP fell by 1.71% on Sunday. Reversing a 0.92% gain from Saturday, Ripple’s XRP ended the week down 2.84% at $0.29119.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.29738 before hitting reverse.

Falling short of the first major resistance level at $0.2992, Ripple’s XRP fell to an early evening intraday low $0.28909.

Ripple’s XRP fell through the first major support level at $0.2930 and the second major support level at $0.2901.

Finding support late on, Ripple’s XRP recovered to $0.2910 levels to limit the downside on the day.

At the time of writing, Ripple’s XRP was down by 0.14% to $0.29079. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29161 to a low $0.29007.

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

For the day ahead, a move through to $0.2926 levels would support a run at the first major resistance level at $0.2960.

Ripple’s XRP would need support from the broader market, however, to break out from the morning high.

In the event of a broad-based crypto rebound, the second major resistance level at $0.3008 would likely limit any upside.

Failure to move through to $0.2926 levels could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.29007 would bring the first major support level at $0.2877 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2943.

Please let us know what you think in the comments below

Thanks, Bob

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