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

It’s a mixed start to the day for the majors. Failure to move through to key levels by late morning would weigh later in the day.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

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 3rd 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 1st time since 26th 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.

Please let us know what you think in the comments below

Thanks, Bob

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