Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/05/19

Ripple’s XRP makes its move early as the bulls look across the majors for more upside opportunities…
Bob Mason
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Bitcoin Cash – ABC – Touches $400

Bitcoin Cash ABC rallied by 7.6% on Monday. Following on from a 21.7% gain from last week, Bitcoin Cash ABC  ended the day at $383.82.

A relatively range-bound morning saw Bitcoin Cash ABC dip to a mid-morning intraday low $347.71 before finding support.

Holding above the first major support level at $330.33, Bitcoin Cash ABC rallied to an early afternoon intraday high and new swing hi $405.52.

The move saw Bitcoin Cash ABC break through the first major resistance level at $379.33 and second major resistance level at $403.67 before easing back to sub-$400 levels.

At the time of writing, Bitcoin Cash ABC was up by 1.22% to $388.5. A relatively bullish start to the day saw Bitcoin Cash ABC rise from a morning low $383.82 to a high $395.53.

Moves through the early morning saw Bitcoin Cash ABC leave the major support and resistance levels untested.

For the day ahead, a hold onto $380 levels through the morning would support another run at $400 levels.

Bitcoin Cash ABC would need support from the broader market, however, to break out from Monday’s high $405.52.

Barring another broad-based crypto rally, the first major support level at $410.32 will likely be left untested.

Failure to hold onto $380 levels could see Bitcoin Cash ABC pullback through to $360 levels before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC will likely steer well clear of the first major support level at $352.51.

Litecoin Struggled again at $90

Litecoin gained 3.54% on Monday. Following on from a 13.3% rally from the previous week, Litecoin ended the day at $87.78.

Tracking the broader market, a relatively range-bound morning saw Litecoin steer clear of the major support levels with an intraday low $84.11.

Finding Support from the broader market Litecoin rallied to an early afternoon intraday high $93.48 before easing back.

Litecoin broke through the first major resistance level at $91.73 before the slide back to sub-$90 levels.

It was a 3rd consecutive day that Litecoin failed to hold onto $90 levels at the day’s end.

At the time of writing, Litecoin was up 1.49% to $89.09. A positive start to the day saw Litecoin rise from a morning low $87.23 to a high $89.47 before easing back.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a hold above $88.50 levels would support another run at the first major resistance level at $92.80.

Barring another broad-based crypto rally, however, Litecoin will likely come up well short of $100 levels. In the event of another rally, the second major resistance level at $97.83 would likely cap the upside on the day.

Failure to hold above $88.50 levels could see Litecoin hit reverse. A fall through the morning low $87.23 to $85 levels would bring the first major support level at $83.43 into play.

Barring a crypto meltdown, Litecoin will likely steer clear of sub-$80 levels on the day.

Ripple Makes its Move

Ripple’s XRP rose by 3.77% on Monday. Reversing a 1.13% fall from the previous week, Ripple’s XRP  ended the day at $0.32268.

A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.30803 to an intraday high $0.32899.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3231.

Coming up well short of $0.3300 levels, Ripple’s XRP slid back to sub-$0.3200 levels late in the day before closing out at $0.32 levels for the first time since 3rd May.

At the time of writing, Ripple’s XRP was up by 10.35% to $0.35608. A particularly bullish start to the day saw Ripple’s XRP rally from a morning low $0.32070 to a high $0.3580 before easing back.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3318 and second major resistance level at $0.3409.

For the day ahead, Ripple’s XRP would need to hold onto $0.35 levels through the morning to support a run at the third major resistance level at $0.3618.

While playing catch-up, Ripple’s XRP would need some support from the broader market to take a run at $0.40 levels.

Failure to hold onto $0.35 levels could see Ripple’s XRP hit reverse later in the day. A fall back through to sub-$0.32 levels would bring the first major support level at $0.3108 into play.

Barring a broad-based crypto sell-off, however, Ripple’s XRP would likely steer clear of sub-$0.32 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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