Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/03/19

It’s a bearish start to the day, but with minor losses, a hold onto key levels would support a rebound later in the day.
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – Sees Red

Bitcoin Cash ABC slipped by 0.66% on Tuesday. Following on from a 2.5% slide on Monday, Bitcoin Cash ABC ended the day at $.

A bearish morning saw Bitcoin Cash ABC slide from an intraday high $128.7 to an early morning intraday low $125.99.

In spite of the pullback, the day’s major support and resistance levels were left untested. A late morning recovery saw Bitcoin Cash ABC bounce back to $128 levels before easing back to $127 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.35% to $127.4. A bearish start to the day saw Bitcoin Cash ABC fall from an end of Tuesday $127.85. The day’s major support and resistance levels were left untested early on.

For the day ahead, a move back through to $127.5 levels would support a rebound later in the day. A breakthrough to $128 levels would bring the first major resistance level at $129.04 into play before any pullback. Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to come up short of $130 levels on the day.

Failure to move back through to $127.5 levels could see Bitcoin Cash ABC take a bigger hit later in the day. A fall through to $126 levels would bring the first major support level at $126.33 into play.

Barring a broad-based crypto sell-off, we would expect Bitcoin Cash ABC to avoid $125 levels on the day. In the event of a crypto meltdown, the second major support level at $124.8 could be tested before any recovery.

Litecoin – Tracks the Pack

Litecoin gained 2.82% on Tuesday. Reversing a 2.93% slide from Monday, Litecoin ended the day at $56.2.

A bearish start to the day saw Litecoin slide to an early morning intraday low $52.15 before recovering.

Litecoin fell through the first major support level at $53.28 before rallying to an early afternoon intraday high $56.7. The rebound saw Litecoin break through the first major resistance level at $56.48.

At the time of writing, Litecoin was down by 0.43% to $55.96. Bearish through the early hours, Litecoin fell from a morning high $56.31 to a low $55.85 before steadying. The day’s major support and resistance levels were left untested early on.

For the day ahead, a move back through the morning high $56.31 would give Litecoin a run at $57 levels before any pullback. Support from the broader market would be needed for Litecoin to take a run at the first major resistance level at $57.88, however. Barring a broad-based crypto rally, we would expect Litecoin to come up short of $58 levels on the day.

Failure to move back through the morning high $56.31 could see Litecoin fall through to $54 levels before any recovery. Barring a mass crypto sell-off, we would expect Litecoin to steer clear of the first major support level at $53.33.

Ripple Looking Flat

Ripple’s XRP gained 0.04% on Tuesday. Partially reversing a 0.85% fall from Monday, Ripple’s XRP ended the day at $0.3166.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low 0.31127 before finding support.

Falling through the first major support level at $0.3126, Ripple’s XRP moved back into positive territory with a late morning high $0.31748. A more range bound afternoon saw Ripple’s XRP strike a late intraday high $0.31776 before easing back. The major resistance levels were left untested on the day.

At the time of writing, Ripple’s XRP was down by 0.09% to $0.3163. A relatively range-bound start to the day saw Ripple’s XRP fall from a morning high $0.31697 to a morning low $0.31581. The early moves left the day’s major support and resistance levels untested.

For the day ahead, a hold above $0.3155 levels through the morning would support a rebound later in the day. A breakthrough the morning high $0.31697 would bring the first major resistance level at $0.3192 into play. Barring a broad-based crypto rally, however, we would expect Ripple’s XRP to come up short of $0.32 levels for a 2nd consecutive day. In the event of a crypto rally, the second major resistance level at $0.3217 would likely come into play before any pullback.

Failure to hold above $0.3155 levels could see Ripple’s XRP hit reverse through the day. A pullback through to sub-$0.3150 levels would bring the first major support level at $0.3127 into play. Barring a broad-based crypto sell-off, we would expect Ripple’s XRP to steer clear of sub-$0.31 support levels. In the event of a sell-off, Ripple’s XRP would likely test the second major support level at $0.3087 before any recovery.

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