Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/06/19
Bitcoin Cash – ABC – Revisits $440
Bitcoin Cash ABC rose by 1.1% on Monday. Following on from a 2% gain on Sunday, Bitcoin Cash ABC ended the day at $431.31.
Another bullish start to the day saw Bitcoin Cash ABC rise to a late morning intraday high $440.0 before hitting reverse.
Coming up against the first major resistance level at $439.64, Bitcoin Cash ABC fell to a late afternoon intraday low $425.81.
Steering clear of the first major support level at $420.72, Bitcoin Cash ABC recovered to $430 levels late in the day.
At the time of writing, Bitcoin Cash ABC was down by 0.36% to $429.74. A choppy start to the day saw Bitcoin Cash ABC fall from a morning high $431.31 to a low $426.0 before finding support.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high to $432.5 level would support a 7th consecutive day in the green.
Bitcoin Cash ABC would need support from the broader market, however, to take a run at the first major resistance level at $438.94.
Barring a broad-based crypto rally, the first major resistance level and Monday’s high $440 would likely cap any upside on the day.
Failure to move through to $432.5 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through the morning low $426.0 would bring the first major support level at $424.75 into play.
Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$420 levels on the day.
Litecoin in Reverse
Litecoin slid by 2.04% on Monday. Following on from a 1.05% fall from Sunday, Litecoin ended the day at $134.21.
Relatively range-bound through the morning, Litecoin eased from an early intraday high $137.4 to a late morning low $134.75.
Steering clear of the major support and resistance levels, Litecoin recovered to $137 levels before a mid-afternoon sell-off.
Litecoin slid through the first major support level at $133.67 to an intraday low $132.05. Litecoin found support from the broader market to move back through to $134 levels late on.
At the time of writing, Litecoin was down by 1.01% to $132.85. A bearish start to the day saw Litecoin fall from a morning high $134.31 to a low $132.70.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high $134.31 to $134.6 levels would be needed support a bullish afternoon.
A move through to $135 levels would bring the first major resistance level at $137.06 into play before any pullback.
Litecoin would need support from the broader market, however, to break out from $135 levels.
Failure to move through to $134.6 levels could see Litecoin spend a 3rd consecutive day in the red.
A fall through the morning low $132.7 would bring the first major support level at $131.71 into play. Barring an extended sell-off through the day, however, Litecoin would likely steer clear of sub-$130 support levels.
Ripple’s XRP Eyes $0.50
Ripple’s XRP rallied by 4.79% on Monday. Following on from a 4.07% gain on Sunday, Ripple’s XRP ended the day at $0.44893.
Range-bound through most of the day, Ripple’s XRP eased from a mid-morning high $0.4386 to an afternoon intraday low $0.42604.
Steering well clear of the first major support level at $0.4095, Ripple’s XRP rallied to a late intraday high $0.46361.
Ripple’s XRP broke through the first major resistance level at $0.4456 to come up against the second major resistance level at $0.4629.
In spite of a late pullback, Ripple’s XRP managed to hold above the first major resistance level at the day end.
At the time of writing, Ripple’s XRP was down by 0.92% to $0.44478. A bullish start to the day saw Ripple’s XRP rise to a morning high $0.457 before falling to a low $0.44425.
Ripple’s XRP left the major support and resistance levels untested in the early hours.
For the day ahead, a move back through to $0.4460 levels would support another run at $0.46 levels.
Ripple’s XRP would need support from the broader market, however, to take a run at the first major resistance level at $0.4663.
Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.46361 would likely limit any upside on the day.
Failure to move through to $0.4460 levels could see Ripple’s XRP slide deeper into the red. A fall through to $0.43 levels would bring the first major support level at $0.4288 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.42 levels on the day.
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Thanks, Bob
