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

It’s back into the green for the majors. A hold onto key levels and a move by late morning would support the recovery of Tuesday’s losses.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Hits Reverse

Bitcoin Cash ABC fell by 4.48% on Tuesday. Reversing a 1.1% gain from Monday, Bitcoin Cash ABC ended the day at $412.0.

A particularly bearish day saw Bitcoin Cash ABC slide from a start of a day intraday high $431.31 to a late intraday low $403.61.

Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $424.75 and second major support level at $418.18.

The third major support level at $403.99 prevented heavier losses on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.34% to $413.40. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $415.0 before easing to a low $411.12.

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

For the day ahead, a move back through the morning high $415 to $418 levels would support a run at the first major resistance level at $427.67.

Bitcoin Cash ABC would need support from the broader market, however, to break out from $420.

In the event of a broad-based crypto rally, Bitcoin Cash ABC could return to $430 levels before any pullback.

Failure to move back through the morning high could see Bitcoin Cash ABC hit reverse. A slide through the morning low $411.12 to sub-$410 levels would bring the first major support level at $400 into play.

Barring a crypto meltdown, Bitcoin Cash ABC will likely steer clear of sub-$400 levels on the day.

Litecoin Bucked the Trend

Litecoin rose by 0.67% on Tuesday. Partially reversing a 2.04% fall on Monday, Litecoin ended the day at $135.1.

A relatively choppy day saw Litecoin slide to a mid-morning intraday low $128.91 before finding support.

Litecoin fell through the first major support level at $131.71 to test the second major support level at $129.2.

An early afternoon rebound saw Litecoin strike an intraday high $136.98 to come within range of the first major resistance level at $137.06.

A pullback to $131 levels was short-lived, with Litecoin managing to move back into positive territory late in the day.

At the time of writing, Litecoin was up by 0.13% to $135.28. A mixed start to the day saw Litecoin rise from a morning low $133.59 to a high $135.6.

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

For the day ahead, a hold above $133 levels through the morning would support a bullish day ahead. A move through Tuesday’s high $136.98 would bring the first major resistance level at $138.42 into play.

Litecoin would need support from the broader market, however, for a break out from $137 levels.

In the event of a broad-based crypto rally, Litecoin could take a run at $139 levels before any pullback.

Failure to hold above $133 levels could see Litecoin slide back through the morning low $133.59 to $130 levels.

Barring a crypto meltdown, the first major support level at $130.35 should limit the downside on the day.

In the event of a sell-off, the second major support level at $125.59 could come into play before any recovery.

Ripple’s XRP Avoids Sub-$0.40

Ripple’s XRP slid by 4.83% on Tuesday. Reversing a 4.79% rally from Monday, Ripple’s XRP ended the day at $0.42724.

A bullish start to the day saw Ripple’s XRP rise to an early intraday high $0.457 before hitting reverse.

Falling well short of the major resistance levels, Ripple’s XRP slid to a late afternoon intraday low $0.41874.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4288, whilst avoiding the 23.6% FIB of $0.4164.

A return to $0.43 levels was short-lived late on in the day.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.43057. A relatively bullish start to the day saw Ripple’s XRP rise from a morning low $0.4250 to a high $0.43116.

Ripple’s XRP left the major support and resistance levels untested in the early hours.

For the day ahead, a move through to $0.4345 levels would support upward momentum on the day.

Ripple’s XRP would need to move through to $0.40 levels, however, to take a run at the first major resistance level at $0.4499.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of Tuesday’s high $0.457. In the event of a breakout, Ripple’s XRP could touch $0.46 levels before any pullback.

Failure to move through to $0.4345 levels could see Ripple’s XRP hit reverse. A fall through to $0.42 levels could bring the first major support level at $0.4117 into play before any recovery.

Please let us know what you think in the comments below

Thanks, Bob

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