Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/01/19

The majors are in recovery mode early on the day, though a breakout may be needed to avoid a reversal later in the day.
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – in Recovery

Bitcoin Cash ABC gained 2.49% on Saturday, partially reversing a 3.61% slide from Friday, to end the day at $132.71.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $136.53, breaking through the first major resistance level at $131.09 and second major resistance level at $135.19 before pulling back to $131 levels.

Support through the afternoon limited the downside to leave Bitcoin Cash ABC at $133 levels by the day’s end, a start of a day intraday low $129.48 holding well above the first major support level at $124.85.

At the time of writing, Bitcoin Cash ABC was up 0.95% to $133.97, a relatively range bound start to the day seeing rise from a start of a day morning low $132.38 to a morning high $134 before easing back, the major support and resistance levels left untested early on.

For the day ahead, a hold on to $133 levels through the morning would support another run at the first major resistance level at $136.33 to bring $137 levels into play before any pullback, Saturday’s high $136.53 likely to pin Bitcoin Cash ABC back from any attempted run at the second major resistance level at $139.96 and $140 levels on the day.

Failure to hold on to $133 levels could see Bitcoin Cash ABC slide through the morning low $132.98 to bring sub-$130 levels and the day’s first major support level at $129.48 into play before any recovery, heavier losses not expected on the day.

Litecoin On the Move

Litecoin gained 0.82% on Saturday, partially reversing a 4.45% fall on Friday, to end the day at $32.04.

A start of a day intraday high $32.61 was as bullish as it got, Litecoin falling short of the first major resistance level at $33.52 before easing back to a mid-day intraday low $31.5, the tight ranges through the day also leaving the first major support level at $30.24 untested.

Recovering through the afternoon, Litecoin managed to move back through to $32 levels and positive territory by the day’s end.

At the time of writing, Litecoin was up 2.34% to $32.79, with moves through the early part of the day seeing Litecoin rise from a morning low $31.8 to a morning high $32.88, breaking through the first major resistance level at $32.6, while steering clear of the first major support level at $31.49.

For the day ahead, a hold above the first major resistance level at $32.6 would support a run at $33 levels and the day’s second major resistance level at $33.16, with support from the broader market needed for Litecoin to breakout from current levels.

Failure to hold above $32.6 through the morning could see Litecoin hit reverse later in the day, a fall through the morning low $31.8 bringing the first major support level at $31.49 into play, with the second major support level at $30.94 in play should sentiment across the broader market deteriorate further later in the day.

Ripple Finds Support

Ripple’s XRP fell by 0.09% on Saturday, following on from a 0.1% fall on Friday, to end the day at $0.33568.

A relatively choppy first half of the day saw Ripple’s XRP strike a start of a day intraday high $0.341 before easing back to $0.33 levels and a middle of the day intraday low $0.3322, the relatively tight ranges leaving the major resistance and support levels untested on the day.

At the time of writing, Ripple’s XRP was up 0.94% to $0.33882, Ripple’s XRP recovering from an early morning low $0.33333 to strike a morning high $0.34100 before easing back, with the first major resistance level at $0.3404 pinning Ripple’s XRP back from bigger gains early on.

For the day ahead, holding above $0.3360 levels through the morning would support a move back through the first major resistance level at $0.3404 to bring the second major resistance level at $0.3451 into play before any pullback, $0.35 levels unlikely to be in play later in the day.

Failure to hold above $0.3360 levels through the morning could see Ripple’s XRP pullback through the morning low $0.3333 to bring the first major support level at $0.3316 into play, with sub-$0.33 levels and the second major support level at $0.3275 in play should sentiment across the broader market deteriorate through the late part of the day

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