Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/04/19

It’s back into the green for the majors. Holding on will be key, however, with a number of the top 10 having had heavy losses going into today.
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – Pulls Back Again

Bitcoin Cash ABC fell by 1.55% on Saturday. Partially reversing a 5.12% rise from Friday, Bitcoin Cash ABC ended the day at $279.01.

A relatively bullish start to the day saw Bitcoin Cash ABC rise to an intraday high $286.4 before hitting reverse. Falling short of the major resistance levels, Bitcoin Cash ABC slid to a late morning intraday low $271.34.

Holding above the first major support level at $264.11, Bitcoin Cash ABC recovered to $280 levels before easing back.

While leaving the major support and resistance levels untested, Bitcoin Cash ABC was also unable to break back through the 23.6% FIB of $291.

At the time of writing, Bitcoin Cash ABC was up by 0.08% to $279.24. Bitcoin Cash ABC rose to an early morning high $280.25 before easing back. Falling short of the first major resistance level at $286.49, Bitcoin Cash ABC fell to a morning low $277.82 before finding support.

While steering clear of the major support levels, Bitcoin Cash ABC continued to fall short of the 38.2% FIB of $291.

For the day ahead, a hold above $278 levels through the morning would support further gains in the day. A move through the morning high $280.25 would bring the first major resistance level at $286.49 into play.

Barring a broad-based crypto rally, however, we would expect Saturday’s high $286.4 to limit any upside on the day.

Failure to hold above $278 levels could see Bitcoin Cash ABC fall through the morning low to bring the first major support level at $271.43 into play.

Barring a mass sell-off, however, Bitcoin Cash ABC will likely avoid sub-$270 levels.

Litecoin Struggles at $80 Continue

Litecoin fell by 1.28% on Saturday. Following a 0.38% decline on Friday, Litecoin ended the day at $77.90.

Tracking the broader market, Litecoin rose to an early morning intraday high $81.63 before sliding back. Coming up against the first major resistance level at $81.6, Litecoin fell to a late morning intraday low $76.35.

Litecoin managed to hold above the major support levels to touch $79 levels before easing back. The pullback left Litecoin short of the 38.2% FIB of $83 on the day.

At the time of writing, Litecoin was down by 0.85% to $77.24. A start of a day rise to a morning high $78.55 saw Litecoin fall short of the major resistance levels before hitting reverse.

The early morning reversal saw Litecoin fall to a morning low $77.11 before steadying. In spite of the pullback, Litecoin held well above the first major support level at $75.62.

For the day ahead, a move back through the morning high to $78.7 levels would signal an afternoon rally. Support from the broader market would be needed, however, for Litecoin to break through to $80 levels.

Barring a broad-based crypto rally, the first major resistance level at $80.90 will likely pin Litecoin back on the day.

Failure to move through to $78.7 levels could see Litecoin fall deeper into the red. A pullback through to $77.3 levels would bring $76 levels into play before any recovery. Barring a crypto sell-off, Litecoin will likely steer clear of the major support level at $75.62.

Ripple Steadies

Ripple’s XRP gained 0.29% on Saturday. Partially reversing a 0.73% fall from Friday, Ripple’s XRP ended the day at $0.3286.

A particularly bullish start to the day saw Ripple’s XRP strike an early intraday high $0.33953 before taking a tumble.

Breaking through the first major resistance level at $0.3341, Ripple’s XRP came within range of the second major resistance level at $0.3405 before falling to an intraday low $0.32403.

In spite of the sell-off, Ripple’s XRP steered clear of major support levels and recovered to $0.33 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.1% to $0.32827. In the early hours, Ripple’s XRP rose to a morning high $0.33414 before pulling back. The pullback saw Ripple’s XRP fall to a morning low $0.32721 before steadying. The major support and resistance levels were left untested early on.

For the day ahead, a move back through to $0.33 levels would give Ripple’s XRP another run at the first major resistance level at $0.3374.

Barring a broad-based crypto rebound, Ripple’s XRP will likely come up short of $0.34 levels, with Saturday’s high $0.33953 likely to cap the upside.

Failure to move back through to $0.33 levels could see Ripple’s XRP test the first major support level at $0.3219.

Barring a crypto meltdown, Ripple’s XRP will likely avoid sub-$0.32 support levels on the day.

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Thanks, Bob

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