Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/11/19

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 0.88% on Tuesday. Reversing a 0.69% fall from Monday, Bitcoin Cash ABC ended the day at $292.78.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $292.95 before hitting reverse.

Falling short of the first major resistance level at $295.90, Bitcoin Cash ABC slid to a mid-morning intraday low $286.37.

Steering clear of the first major support level at $285.90, Bitcoin Cash ABC rallied to an early afternoon intraday high $298.44.

Bitcoin Cash ABC broke through the first major resistance level at $295.90 before easing back.

Falling short of the second major resistance level at $300.45, Bitcoin Cash ABC eased back to $292 levels.

At the time of writing, Bitcoin Cash ABC was up by 0.99% to $295.68. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $290.68 before striking a high $297.05.

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

For the day ahead, a move back through to $297 levels would support a run at the first major resistance level at $298.69.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Tuesday’s high $298.44.

Barring an extended rally through the day, Bitcoin Cash ABC would likely come up short of $300 levels for a 3^rd consecutive day.

Failure to move back through to $297 levels could see Bitcoin Cash ABC hit reverse.

A fall through to $292.50 levels would bring sub-$290 levels into play before any recovery.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the first major support level at $286.62.

Litecoin back at sub-$63

Litecoin rose by 2.85% on Tuesday. Following on from a 5.23% rally on Monday, Litecoin ended the day at $63.16.

A mixed start to the day saw Litecoin fall to a mid-morning intraday low $60.79 before finding support.

Steering clear of the first major support level at $58.63, Litecoin rallied to a late afternoon intraday high $64.20.

Litecoin broke through the first major resistance level at $63.52, to visit $64 levels for the 1^st time since 26^th October.

A late pullback saw Litecoin fall back through the first major resistance level at $63.52.

At the time of writing, Litecoin was down by 0.55% to $62.81. A bearish start to the day saw Litecoin fall from an early morning high $63.23 to a low $62.62 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-S62.70 levels to support a rebound later in the day.

A move back through to $63 levels would support a run at the first major resistance level at $64.64.

Litecoin would need the support of the broader market, however, to break back through to $64 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $64.2 would likely cap any upside.

Failure to steer clear of sub-$62.70 levels could see Litecoin test the first major support level at $61.23.

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$61 levels.

Ripple’s XRP Gives up on $0.30 Levels

Ripple’s XRP rose by 0.37% on Tuesday. Following on from a 3.15% rally on Monday, Ripple’s XRP ended the day at $0.30160.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.30663 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.30490 before sliding to a mid-morning intraday low $0.29611.

Steering clear of the first major support level at $0.2931, Ripple’s XRP bounced back to $0.30 levels to close out the day in the green.

At the time of writing, Ripple’s XRP was down by 0.61% to $0.29975. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.30166 to a low $0.29778.

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

For the day ahead, a move back through to $0.3015 levels would support a run at the first major resistance level at $0.3068.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.30166.

Barring a broad-based crypto rally on the day, Tuesday’s high $0.30663 and first major resistance level would likely limit any upside.

Failure to move back through to $0.3015 levels could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.29778 would bring the first major support level at $0.2963 into play.

Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of the second major support level at $0.2909.

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Thanks, Bob