Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC fell by 0.12% on Friday. Partially reversing a 2.49% rally from Thursday, Bitcoin Cash ABC ended the day at $210.78.

A relatively choppy day saw Bitcoin Cash ABC fall to a late morning intraday low $209.58 before finding support.

Steering clear of the first major support level at $207.25, Bitcoin Cash ABC bounced back to a late morning intraday high $214.0.

Coming up short of the first major resistance level at $215.48, Bitcoin Cash ABC fell back to $210 levels.

In the 2^nd half of the day, Bitcoin Cash ABC came up against resistance at $214 for a 2^nd time, with an afternoon high $214.0 before falling back into the red.

While bucking the trend on the day, support from the broader market limited the downside on the day.

At the time of writing, Bitcoin Cash ABC was up by 2.48% to $216.0.

Bitcoin Cash broke through the first major resistance level at $213.33 and second major resistance level at $215.87.

For the day ahead, a hold above the second major resistance level would bring the current week high $217.11 into play.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to out from $216 levels.

Barring a broad-based crypto rally the second major resistance level and morning high would likely cap any upside.

Failure to move to hold above the second major resistance level could see Bitcoin Cash ABC spend another day in the red.

A fall back through to sub-$211.5 levels would bring the first major support level at $208.91 into play.

Barring an extended sell-off on the day, however, Bitcoin Cash ABC should avoid the second major support level at $207.03.

Litecoin

Litecoin rose by 1.14% on Friday. Following on from 0.31% gain on Thursday, Litecoin ended the day at $45.36.

A mixed start to the day saw Litecoin rise to an early morning high $45.09 before sliding to an intraday low $44.09.

Whilst falling short of the first major resistance level at $45.47, Litecoin also steered clear of the first major support level at $43.97.

Finding support through to the late afternoon, Litecoin rallied to an intraday high $45.66 before easing back.

Resistance at the first major resistance level at $45.47 limited the upside on the day.

At the time of writing, Litecoin was up by 0.44% to $45.56. A mixed start to the morning saw Litecoin fall to an early morning low $45.11 before striking a high $45.76.

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

For the day ahead, a move back through the morning high would bring the first major resistance level at $45.98 into play.

Support from the broader market would be needed, however, for Litecoin to break through to $46 levels.

Barring a broad-based crypto rally, the morning high and first major resistance level would likely limit any upside.

Failure to move back through the morning high could see Litecoin hit reverse.

A fall through to sub-$45.10 levels would bring the first major support level at $44.41 into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of the second major support level at $43.47.

Ripple’s XRP

Ripple’s XRP rose by 2.04% on Friday. Following on from a 3.53% rally on Thursday, Ripple’s XRP ended the day at $0.22742.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22564 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP fell to a late morning intraday low $0.22034.

Steering clear of the first major support level at $0.2147, Ripple’s XRP rallied to a late afternoon intraday high $0.22856.

Ripple’s XRP came within range of the first major resistance level at $0.2291 before sliding back to $0.2240 levels.

Steering clear of the red, Ripple’s XRP found late support to wrap up the day at $0.2270 levels.

At the time of writing, Ripple’s XRP was up by 0.26% to $0.22800. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22654 to a high $0.22950.

Ripple’s XRP left the major support and resistance levels untested before easing back.

For the day ahead, Ripple’s XRP would need to steer clear of $0.2255 levels to support another run at the first major resistance level at $0.2305.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.22950.

Barring a broad-based crypto rally, resistance at $0.23 would likely limit any upside on the day.

Failure to steer clear of 0.2245 levels would bring the first major support level at $0.22230 into play.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.22 levels for a 2^nd consecutive day.

Please let us know what you think in the comments below

Thanks, Bob