FXEMPIRE
All

Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/07/19

It’s back into the red for the majors in the early hours. There could be a bounce-back should key levels be avoided going into the afternoon.
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – and the Bounce Back

Bitcoin Cash ABC rallied by 8.88% on Thursday. Following on from a 1.97% gain on Wednesday, Bitcoin Cash ABC ended the day at $314.29.

A choppy morning saw Bitcoin Cash ABC rise to a morning high $304 before sliding back to a mid-day intraday low $285.13.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC rallied to a late afternoon intraday high $323.73.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $307.46 before easing back. Bitcoin Cash ABC came up short of the second major resistance level at $325.25.

At the time of writing, Bitcoin Cash ABC was down by 0.24% to $313.53. A relatively bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $315.29 to a low $310.24.

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

For the day ahead, a move back through to $315 levels would bring Thursday’s high $323.73 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level a $330.30.

Failure to move back through the morning high could see Bitcoin Cash ABC come under greater pressure on the day. A fall through the morning low $310.24 to $306 levels would bring the first major support level at $291.7 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 levels.

Litecoin Hits the $100s

Litecoin jumped by 12.37% on Thursday. Following on from a 13.19% surge on Wednesday, Litecoin ended the day at $101.4.

Recovering from an early morning intraday low $87.01, Litecoin rallied to a late afternoon intraday high $105.0.

Having steered clear of the major support levels, Litecoin broke through the first major resistance level at 97.90 and 38.2% FIB of $99.

The second major resistance level at $105.55 pinned Litecoin back from higher levels on the day.

In spite of a pullback through the latter part of the day, Litecoin held above the first major resistance level and 38.2% FIB at the day end.

At the time of writing, Litecoin was down by 1.97% to $99.40. A bearish start to the day saw Litecoin fall from an early morning high $101.67 to a low $98.23.

Falling short of the major resistance levels, Litecoin tested support at the 38.2% FIB of $99 early on.

For the day ahead, a hold above the 38.2% FIB would support a recovery later in the day. A move back through the morning high would bring the first major resistance level at $108.6 into play.

Barring a broad-based crypto rally, Litecoin will likely come up short of $110 levels.

Failure to hold above the 38.2% FIB of $99 could see Litecoin fall deeper into the red. A fall back through the morning low to $97 levels would bring the first major support level at $90.61 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day.

Ripple’s XRP Back to $0.32 Levels

Ripple’s XRP rose by 3.10% on Thursday. Following on from a 5.33% rally on Wednesday, Ripple’s XRP ended the day at $0.32033.

A choppy morning saw Ripple’s XRP rise to a morning high $0.31917 before hitting reverse. Coming up short of the first major resistance level at $0.3254, Ripple’s XRP slid to an intraday low $0.30248.

Ripple’s XRP steered well clear of the first major support level at $0.2938 before rallying to a late afternoon intraday high $0.32618.

Ripple’s XRP broke through the first major resistance level at $0.3254 before easing back. Support at $0.32 was key on the day.

At the time of writing, Ripple’s XRP was down by 0.03% to $0.32024. Relatively range-bound early on, Ripple’s XRP fell from a morning high $0.32244 to a low $0.31760 before finding support.

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

For the day ahead, a hold onto $0.32 levels would support a run at Thursday’s high $0.32618. Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.3302.

Barring a broad-based crypto rally, Thursday’s high would likely pin Ripple’s XRP back from $0.33 levels on the day.

Failure to hold onto $0.32 levels could see Ripple’s XRP fall back through the morning low $0.31760 to sub-$0.3160 levels.

A fall through $0.3160 levels would bring the first major support level at $0.3065 into play. Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.30 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US