Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 20/06/19

Bitcoin Cash – ABC – Steadies

Bitcoin Cash ABC rose by 0.21% on Wednesday. Steadying from a 4.48% slide on Tuesday, Bitcoin Cash ABC ended the day at $415.55.

A bullish start to the day saw Bitcoin Cash ABC rise to a late morning intraday high $419.73 before hitting reverse.

Falling well short of the first major resistance level at $427.67, Bitcoin Cash ABC fell to an early afternoon intraday low $409.53.

Bitcoin Cash ABC steered clear of the first major support level at $399.97 before moving back into positive territory.

At the time of writing, Bitcoin Cash ABC was down by 0.32% to $414.21. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $416.61 to a low $414.21.

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

For the day ahead, a move back through to $415 levels would support a run at the first major resistance level at $420.34.

Bitcoin Cash ABC would need support from the broader market, however, to break out from Wednesday’s high $419.73.

In the event of a broad-based crypto rally, the second major resistance level at $425.14 could come into play.

Failure to move back through to $415 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through to $412 levels would bring the first major support level at $410.14 into play.

Barring a crypto meltdown, Bitcoin Cash ABC will likely steer clear of the second major support level at $404.74.

Litecoin Joins the Pack

Litecoin gained 1.27% on Wednesday. Following on from a 0.67% rise on Tuesday, Litecoin ended the day at $136.81.

Bullish through the morning, Litecoin rallied from an early morning intraday low $133.57 to a late morning intraday high $139.66.

Steering clear of the first major support level at $130.35, Litecoin broke through the first major resistance level at $138.42.

A choppy afternoon saw Litecoin move in a $136 and $139 range before sliding back to $135 levels late in the day.

Finding support from the broader market, Litecoin managed to end the day at $136 levels.

At the time of writing, Litecoin was down by 0.26% to $136.46. A mixed start to the day saw Litecoin fall from a morning high $137.15 to a low $136.1 before steadying.

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

For the day ahead, a move back through to $137 levels would support a run at the first major resistance level at $139.79.

Litecoin would need the support of the broader market, however, to break out from $138 levels.

Barring a broad-based crypto rally, Litecoin will likely continue to come up short of $140 levels on the day.

Failure to move back through to $137 levels could see Litecoin take a slide. A fall through to $135 levels would bring the first major support level at $133.7 into play.

Barring a broad-based crypto sell-off, however, Litecoin will likely steer clear of sub-$130 support levels.

Ripple’s XRP Back at $0.43 Levels

Ripple’s XRP rose by 2.09% on Wednesday. Partially reversing a 4.83% slide from Tuesday, Ripple’s XRP ended the day at $0.43638.

Tracking the broader market, Ripple’s XRP rallied from a start of a day intraday low $0.4250 to late morning high $0.43699 before easing back. Ripple’s XRP eased back to $0.42 levels by mid-day before finding support.

An afternoon rally saw Ripple’s XRP strike a late intraday high $0.43983 before steadying.

In spite of the moves on the day, Ripple’s XRP left the major support and resistance levels untested.

At the time of writing, Ripple’s XRP was down by 0.18% to $0.43558. A mixed start to the day saw Ripple’s XRP fall from a morning high $0.43637 to a low $0.43356 before finding support.

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

For the day ahead, a hold above $0.4340 levels would support a run at $0.44 levels later in the day.

Ripple’s XRP would need support from the broader market, however, to take a run at the first major resistance level at $0.4425.

Barring a broad-based crypto rally, Wednesday’s high $0.43983 would likely limit the upside on the day.

In the event of a crypto rally, Ripple’s XRP could break through the second major resistance level at $0.4486 to strike $0.45 levels before any pullback.

Failure to hold above $0.434 levels could see Ripple’s XRP slide further back into the red. A pullback through $0.4310 levels would bring the first major support level at $0.4276 into play.

Barring a broad-based crypto sell-off, Ripple’s XRP should steer clear of sub-$0.42 support levels on the day.

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Thanks, Bob