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

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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