Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/08/19

The crypto bears are looking to take August, following a July pullback. It’s not panic stations yet, as Bitcoin steers clear of sub-$11,000…
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Eases Back

Bitcoin Cash ABC fell by 1.63% on Monday. Partially reversing a 6.5% rally on Sunday, Bitcoin Cash ABC ended the day at $330.66.

A bearish morning saw Bitcoin Cash ABC slide from an early morning intraday high $339.1 to a late morning intraday low $327.35.

In spite of the choppy morning, Bitcoin Cash ABC left the major support and resistance levels untested through the day.

Support through the afternoon saw Bitcoin Cash ABC recover to $333 levels before easing back in a bearish session.

At the time of writing, Bitcoin Cash ABC was up by 0.13% to $331.08. A relatively range-bound start to the day saw Bitcoin Cash ABC fall to a morning low $329.51 before hitting a high $331.08.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, a move through to $332.40 levels would support a run at the first major resistance level at $337.39.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $335 levels.

Barring a broad-based crypto rally, Monday’s high $339.1 and the first major resistance level would likely limit any upside.

Failure to move through to $332.40 levels could see Bitcoin Cash ABC hit reverse. A fall through to Monday’s low $327.35 would bring the first major support level at $325.64 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$320 levels. The second major support level at $320.62 would likely limit any downside.

Litecoin Hits Reverse

Litecoin slid by 4.59 on Monday. Partially reversing a 5.43% gain from Sunday, Litecoin ended the day at $85.78.

A particularly bearish morning saw Litecoin slide from an early intraday high $89.93 to $85.48 by mid-day.

The morning sell-off saw Litecoin fall through the first major support level at $86.17 before finding support.

In the 2nd half of the day, Litecoin managed to recover to $87.55 before sliding back to a late afternoon intraday low $85.33.

A second sell-off saw Litecoin fall back through the first major support level at $86.17.

At the time of writing, Litecoin was down by 0.75% to $85.14. A bearish start to the day saw Litecoin fall from a morning high $85.82 to a low $84.19 before finding support.

While falling short of the major resistance levels, Litecoin came within range of the first major support level at $84.10 early on.

For the day ahead, a move through to $87 levels would support a run at the first major resistance level at $88.70.

Litecoin would need the support of the broader market, however, to break through to $86 levels.

Barring a broad-based crypto rally, the first major resistance level, and Monday’s high would likely see Litecoin come up short of $90 levels.

Failure to move through to $87 levels could see Litecoin slide deeper into the red. A fall through the first major support level at $84.10 would bring the second major support level at $82.41 into play.

Barring a crypto meltdown, we would expect the second major support level to limit any downside on the day.

Ripple’s Avoids sub-$0.30

Ripple’s XRP slipped by 0.87% on Monday. Partially reversing a 1.34% rise on Sunday, Ripple’s XRP ended the day at $0.30081.

A bullish start to the day saw Ripple’s XRP strike an early intraday high $0.30563 before hitting reverse. The early move saw Ripple’s XRP fall well short of the first major resistance level at $0.3083.

The reversal saw Ripple’s XRP fall to a mid-morning intraday low $0.29801 before finding support. In spite of the reversal, Ripple’s XRP steered clear of the first major support level at $0.2970.

Ripple’s XRP recovered to $0.3020 levels by early afternoon before revisiting sub-$0.30 levels. For the bulls, holding onto $0.30 levels at the day end was key…

At the time of writing, Ripple’s XRP was down by 0.43% to $0.29952. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30133 before falling to a low $0.29951.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move through to $0.30150 would support another run at the first major resistance level at $0.3050.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.30133.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.31 levels for a 4th consecutive day. The second major resistance level at $0.3091 would likely cap any upside.

Failure to move through to $0.3015 levels would likely see Ripple’s XRP struggle through the day. A fall through to $0.2980 levels would bring the first major support level at $0.2973 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2939.

Please let us know what you think in the comments below

Thanks, Bob

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