Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/02/19

Here come the bulls… Late Sunday’s rally spills over to the early hours of this morning. Holding onto key levels would support more upside in the day.
Bob Mason
Crypto Rally
Investing and stock market concept gain and profits with faded candlestick charts.

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC rose by 2.03% on Sunday. Following on from a 0.03% gain from Saturday, Bitcoin Cash ABC ended the week down 1.32% at $123.55.

Bitcoin Cash ABC rose to a late morning intraday high $123.65, breaking through the first major resistance level at $121.77 and second major resistance level at $122.76 before hitting reverse.

The reversal saw Bitcoin Cash ABC fall to an early afternoon intraday low $119.5 before rallying back through to $123 levels. The pullback saw Bitcoin Cash ABC fall through the first major support level at $120.18 to call on support at the second major support level at $119.58.

At the time of writing, Bitcoin Cash ABC was up by 3.73% to $128.162. Sunday’s late rally continued into the early hours. Bitcoin Cash ABC rallied from a morning low $123.64 to a morning high $128.28 before easing back.

Steering clear of the day’s support levels, Bitcoin Cash ABC broke through the first major resistance level at $124.97 and second major resistance level at $126.38.

For the day ahead, a hold onto $128 levels could see Bitcoin Cash ABC take a run at $130 levels before any pullback. Bitcoin Cash ABC would need to avoid a pullback through to $126 levels to support further gains later in the day.

We would expect the 23.6% FIB Retracement Level to be left untested on the day.

Failure to hold onto $128 levels could see Bitcoin Cash ABC slide back through the second major resistance level at $126.38 before any recovery. We would expect Bitcoin Cash ABC to hold above the first major resistance level at $124.97 in the event of a pullback.

Litecoin’s Sees Deep Red for the Week

Litecoin gained just 0.7% on Sunday. Following on from a 2.54% rally on Saturday, Litecoin ended the week down 6.6% at $43.45.

Litecoin rallied to a late morning intraday high $44.44 before a sharp pullback. The early move saw Litecoin break through the first major resistance level at $44.07 before the slide.

Sliding through the late morning, Litecoin fell to an early afternoon intraday low $42.06 to call on support at the first major support level at $42.08.

Litecoin moved back through to $43 levels late in the day, finding support from the broader market.

At the time of writing, Litecoin was up by 1.36% to $44.04. A particularly bullish start to the day saw Litecoin rise from a morning low $43.12 to a morning high $44.85 before easing back. Steering clear of the first major support level at $42.19, Litecoin broke through the first major resistance level at $44.57.

For the day ahead, a hold onto $44 levels through the morning would support another run at $45 levels, which would bring the second major resistance level at $45.70 into play. We would expect Litecoin to come up short of $46 levels in the event of a breakout from current levels.

Failure to hold onto $44 levels could see Litecoin hit reverse later in the day. A fall through $43.30 would bring $42 levels and the day’s first major support level at $42.19 into play. We would expect Litecoin to steer clear of sub-$42 support levels, however, in the event of a reversal.

Ripple Sees a Mini-Rally to Round off the Week

Ripple’s XRP rose by 0.98% on Sunday. Reversing a 0.41% fall from Saturday, Ripple’s XRP ended the week down 2.24% at $0.3085.

Tracking the broader market, Ripple’s XRP struck a late morning intraday high $0.3150 before sliding to a late afternoon intraday low $0.30149.

Ripple’s XRP broke through the first major resistance level at $0.3086 and the second major resistance level at $0.3115. Sliding to the day low $0.30149, Ripple’s XRP fell through the first major support level at $0.3037 to call on support at the second major support level at $0.3017.

At the time of writing, Ripple’s XRP was up 1.94% to $0.31448. An early rally saw Ripple’s XRP strike a morning high $0.315, coming up against the first major resistance level at $0.3152 before easing back.

For the day ahead, holding onto $0.31 levels through the morning would support another run at the first major resistance level at $0.3152 to bring last week’s high $0.3189 into play. More material gains across the broader market would bring the second major resistance level at $0.3218 into play later in the day.

Failure to hold onto $0.31 levels could see Ripple’s XRP hit reverse later in the day. A slide through $0.3080 levels would bring the first major support level at $0.3017 into play before any recovery. We would expect Ripple’s XRP to steer clear of sub-$0.30 levels in the event of a reversal.

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