Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/06/19

Ripple’s XRP and Litecoin buck the trend early. The rest of the pack will need to catch up, however, for the pair to stay in the green.
Bob Mason
Bitcoin coin on white keyboard

Bitcoin Cash – ABC – in the Red

Bitcoin Cash ABC gained 2.69% on Friday. Following on from a 5.08% rally on Thursday, Bitcoin Cash ABC ended the day at $422.00.

A relatively choppy day saw Bitcoin Cash ABC recover from a morning low $404.19 to hit $416 levels before hitting reverse.

Pulling back from the early afternoon high, Bitcoin Cash ABC slid to a late afternoon intraday low $402.00.

Steering clear of the first major support level at $397.05, Bitcoin Cash ABC rallied to a late intraday high $422.00. In spite of the late rally, Bitcoin Cash ABC came up short of the first major resistance level at $426.51.

At the time of writing, Bitcoin Cash ABC was down by 0.48% to $419.96. A mixed start to the day saw Bitcoin Cash ABC rise from a morning low $416.37 to a high $424 before easing back.

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

For the day ahead, a hold above $415 levels through the morning would support upward momentum later in the day.

A recovery to $420 levels would signal a run at the first major $428.67. Bitcoin Cash ABC would need support from the broader market, however, to break out from this morning’s high $424.

Failure to hold above $415 levels could see Bitcoin Cash ABC test the first major support level at $408.67.

Barring an extended crypto market sell-off, Bitcoin Cash ABC would likely steer clear of sub-$400 levels on the day.

Litecoin Plays Catch-up

Litecoin rose by 1.36% on Friday. Partially reversing a 3.9% slide from Thursday, Litecoin ended the day at $132.56.

Tracking the broader market, Litecoin recovered from a mid-morning low $128.43 to an early afternoon intraday high $136.96 before hitting reverse.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $135.89.

The reversal saw Litecoin slide through the first major support level at $126.94 to a late afternoon intraday low $125.6.

Finding support from the broader market, Litecoin recovered to $130 levels late in the day.

At the time of writing, Litecoin was up by 1.8% to $134.94. A particularly bullish start to the day saw Litecoin rally from a morning low $132.57 to a high $137.31.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $135.89 before easing back.

For the day ahead, a hold onto $130 levels would support another break through the first major resistance level. Litecoin would need support from the broader market, however, to break out from $135 levels.

Barring a broad-based crypto rally, Litecoin would likely come up short of the second major resistance level at $138.09.

Failure to hold onto $130 levels could see Litecoin tests the first major support level at $127.7 before any recovery.

Barring a crypto meltdown, Litecoin would likely steer clear of sub-$126 levels on the day.

Ripple’s XRP on the Move

Ripple’s XRP rose by 1.03% on Friday. Reversing a 0.90% fall from Thursday, Ripple’s XRP ended the day at $0.0.40363.

A particularly choppy day saw Ripple’s XRP rise from an early morning low $0.39307 to a morning high $0.40034.

Steering clear of the major support and resistance levels, Ripple’s XRP slid to a mid-day intraday low $0.39162 before finding support.

A return to $0.392 levels by late afternoon was short-lived, with Ripple’s XRP finding support from the broader market to strike a late intraday high $0.40487.

In spite of the rally, Ripple’s XRP left the first major resistance level at $0.4080 untested.

At the time of writing, Ripple’s XRP was up by 0.95% to $0.40748. A bullish start to the day saw Ripple’s XRP rally from a morning low $0.40180 to a high $0.41133 before easing back.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.4085. Coming within range of the second major resistance level at $0.4133, Ripple’s XRP eased back to sub-$0.41 levels.

For the day ahead, a move back through to $0.41 levels would support another run at the second major resistance level at $0.4133.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.41133.

Barring a broad-based crypto rally, Ripple’s XRP would likely struggle to return to $0.41 levels later in the day.

Failure to move back through to $0.41 levels could see Ripple’s XRP hit reverse. A fall through the morning low $0.40180 would bring the first major support level at $0.3952 into play.

Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of sub-$0.39 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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