Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/02/19

Bitcoin Cash – ABC – Sees Green

Bitcoin Cash ABC rose by 0.39% on Tuesday. Partially reversing a 3.05% slide on Monday, Bitcoin Cash ABC ended the day at $120.33.

Another bearish start to the day saw Bitcoin Cash ABC slide from a morning high $119.86 to a morning low $117.00. The sell-off saw Bitcoin Cash ABC fall through the first major support level at $118.11 before finding support.

Recovering through the day, Bitcoin Cash ABC rallied through to a late afternoon intraday high $122.00 before easing back to $120 levels. The day’s major support levels were left untested.

At the time of writing, Bitcoin Cash ABC was up by 2.41% to $123.23. Bullish from the start of the day, Bitcoin Cash ABC rallied to a morning high $125. Bitcoin Cash ABC broke through the first major resistance level at $122.55 to come up against the second major resistance level at $124.78 before easing back to $123 Levels.

For the day ahead, a hold onto $123 levels through the morning would support another run at $124 levels and the second major resistance level at $124.78. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break through the second major resistance level, with Monday’s high $125.2 likely to cap the upside on the day.

Failure to hold onto $123 levels could see Bitcoin Cash ABC slide through the morning low $121.29 to $120 levels. Barring a pullback to $119.5 levels, we would expect the day’s major support levels to be left untested.

Litecoin in Recovery Mode

Litecoin gained 2.29% on Tuesday. Partially reversing an 8.94% slide on Monday, Litecoin ended the day at $43.45.

A start of a day dip to an intraday low $41.4 saw Litecoin steer clear of the first major support level at $40.14 before bouncing back to $43 levels.

While sub-$43 support levels were tested through the day, Litecoin managed to break through to a late afternoon intraday high $44.06, before easing back to $43 levels. Litecoin fell short of the first major resistance level at $45.58 on the day.

At the time of writing, Litecoin was up 0.51% to $43.57. A mixed start to the day saw Litecoin ease from a morning high $43.93 to a morning low $43.00 before finding support. The day’s major support and resistance levels were left untested early on.

For the day ahead, a hold onto $43 levels through the morning would support a run through the morning high $43.93 to bring the first major resistance level at $44.47 into play. Barring a broad-based crypto rally, we would expect Litecoin to come up short of $45 levels and the second major resistance level at $45.6.

Failure to hold onto $43 levels could see Litecoin slide through to $41 levels to call on support at the first major support level at $41.81 before any recovery. Barring a crypto meltdown, we would expect Litecoin to steer clear of sub-$41 levels and the second major support level at $40.28.

Ripple on the Move

Ripple’s XRP rose by 1.2% on Tuesday. Partially reversing a 2.74% fall from Monday, Ripple’s XRP ended the day at $0.31086.

A bearish start to the day saw Ripple’s XRP fall from a morning high $0.30717 to an intraday low $0.30100 before finding support. The pullback saw Ripple’s XRP fall through the first major support level at $0.3034 to call on support at the second major support level at $0.2999.

Recovering through the day, Ripple’s XRP rose to a late in the day intraday high $0.31428, breaking through the first major resistance level at $0.3130 before easing back.

At the time of writing, Ripple’s XRP was up 0.97% to $0.31388.  Recovering from a morning low $0.30968, Ripple’s XRP rallied to a morning high $0.31388. The early moves saw Ripple’s XRP steer clear of the first major support level at $0.3031, whilst coming into range of the first major resistance level at $0.3164.

For the day ahead, holding onto $0.31 levels would support a breakthrough the first major resistance level at $0.3164 to bring $0.32 levels into play. Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the second major resistance level at $0.3220.

Failure to hold onto $0.31 levels could see Ripple’s XRP hit reverse later in the day. A pullback through the morning low $0.30968 would likely see Ripple’s XRP call on support at the first major support level at $0.3031 before any recovery. We would expect sub-$0.30 support levels to be left untested, with the day looking bullish for Ripple’s XRP in the early hours.

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