Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/04/19

Bitcoin Cash – ABC – Almost Doubles in a Week.

Bitcoin Cash ABC rallied by 6.59% on Sunday. Following on from a 2.65% rise on Saturday, Bitcoin Cash ABC ended the week up 91% at $322.49.

An early morning intraday low $300 saw Bitcoin Cash ABC steer well clear of the day’s major support levels before making a move.

A morning high $325.32 saw Bitcoin Cash ABC come within range of the first major resistance level at $328.18. Pulling back to an afternoon low $305, Bitcoin Cash ABC managed to avoid sub-$300 levels to strike a late intraday high $327.08.

At the time of writing, Bitcoin Cash ABC was down 1.08% to $319. It was a choppy start to the day. Bitcoin Cash ABC recovered from a start of a day morning low $316.39 to a high $329.0 before hitting reverse.

The day’s major support and resistance levels were left untested early on.

For the day ahead, a hold above $316.5 levels would support a recovery later in the day. A move back through to $325 levels would bring $330 levels into play before any pullback. Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the first major resistance level at $333.05. Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to continue to fall short of the swing hi $348.31.

Failure to hold above $316.5 levels could see Bitcoin Cash ABC test the first major support level at $305.97. Barring a crypto sell-off, we would expect sub-$300 support levels to be left untested.

Litecoin Falls Short of $100

Litecoin fell by 0.48% on Sunday. Partially reversing a 3.93% gain from Saturday, Litecoin ended the week up 52.3% to $91.88.

A mixed start to the day saw Litecoin fall to a morning low $91.29 before recovering. An early morning intraday high $95.4 saw Litecoin come up well short of the day’s major resistance levels before hitting reverse.

The pullback saw Litecoin fall to a late afternoon intraday low $89.12 before finding support. Holding above the major support levels, Litecoin managed to move back through to $90 levels. The upside was limited, however, with Litecoin unable to hold onto $94 levels and positive territory late in the day.

At the time of writing, Litecoin was up by 0.5% to $92.34. A bullish start to the day saw Litecoin rise from a morning low $91.8 to a high $94.36 before easing back. The major support and resistance levels were left untested early on.

For the day ahead, a hold onto $92 levels through the morning would support upward momentum later in the day. A move back through to $94 levels would bring the first major resistance level at $95.15 into play. Barring a broad-based crypto rally, we would expect Litecoin to fall short of the second major resistance level at $98.41.

Failure to hold onto $92 levels could see Litecoin slide back to sub-$90 levels before any recovery. Barring a crypto meltdown, however, we would expect the first major support level at $88.87 to limit any losses on the day.

Ripple Finds Support

Ripple’s XRP rose by 3.1% on Sunday. Reversing a 2.96% from Saturday, Ripple’s XRP ended the week up 16.9% to $0.3670.

A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.35472 to an intraday high $0.3710 before easing back. Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3659.

Choppy through the day, Ripple’s XRP slid back to an afternoon low $0.35510 before bouncing back to $0.36 levels.

At the time of writing, Ripple’s XRP was down by 0.39% to $0.36556. Ripple’s XRP hit a morning high $0.37440 before sliding to a low $0.36318. The first major resistance level at $0.3738 pinned Ripple’s XRP back in the early hours.

For the day ahead, a hold above $0.3640 levels would support a rebound later in the day. A move back through to $0.37 levels would bring the first major resistance level at $0.3738 back into play. Support from the broader market would be needed, however, for Ripple’s XRP to take a run at $0.38 levels. Barring a broad-based crypto rally, we would expect Ripple’s XRP to fall short of the second major resistance level at $0.3805.

Failure to hold above $0.3640 could see Ripple’s XRP take a bigger hit on the day. A fall through the morning low $0.36318 would bring $0.35 levels into play before any recovery. Barring a crypto meltdown, we would expect the first major support level at $0.3575 to limit the losses on the day.

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