Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/06/19

The majors are on the move. Is this the breakout the bulls have been looking for or just an extension of late Thursday’s recovery…
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC fell by 0.94% on Thursday. Reversing a 0.21% rise from Wednesday, Bitcoin Cash ABC ended the day at $412.61.

A choppy start to the day saw Bitcoin Cash ABC slide from an early intraday high $418.88 to a late morning intraday low $405.85.

Falling short of the first major resistance level at $420.34, Bitcoin Cash ABC fell through the first major support level at $410.14.

Finding support late on, Bitcoin Cash ABC recovered to $412 levels to cut the losses on the day.

At the time of writing, Bitcoin Cash ABC was up by 3.27% to $426.12. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $415.28 to a high $427.34.

Bitcoin Cash ABC broke through the first major resistance level at $419.04 and second major resistance level at $425.48 early on.

For the day ahead, a hold above the second major resistance level at $425.48 would support a break out to $430 levels.

In the event of an extended rally through the day Bitcoin Cash ABC could come against the third major resistance level at $438.51. We would expect Bitcoin Cash ABC to come up short of the current week high $440, however.

Failure to hold above the second major resistance level at $425.48 could see Bitcoin Cash ABC slide back to sub-$420 levels.

Barring a crypto meltdown, however, Bitcoin Cash ABC would likely avoid a pullback through the first major resistance level at $419.04.

In the event of a meltdown, a fall through $412 levels would bring the first major support level at $406.01 into play before any recovery.

Litecoin Eyes $140

Litecoin fell by 0.5% on Thursday. Partially reversing a 1.27% gain from Wednesday, Litecoin ended the day at $135.99.

Bearish through most of the day, Litecoin fell from a start of a day intraday high $137.15 to a late afternoon intraday low $133.37.

Coming up short of the first major resistance level at $139.79, Litecoin tested the first major support level at $133.70.

Finding support late in the day, Litecoin recovered to $135 levels to limit the loss on the day.

At the time of writing, Litecoin was up by 1.58% to $137.89. Tracking the broader market, Litecoin rose from a morning low $135.83 to a high $138.12 before easing back.

Litecoin broke through the first major resistance level at $137.64 early on.

For the day ahead, a hold onto $137 levels through the morning would support further upside on the day.

A move back through the morning high $138.12 would support a run at the second major resistance level at $139.28. In the event of a breakout, Litecoin could take a run at $140 levels before any pullback.

We would expect Litecoin to come up short of the third major resistance level at $143.06 on the day.

Failure to hold onto $137 levels could see Litecoin slide back through to $135 levels. A fall through $135.5 would bring the first major support level at $133.86 into play before any recovery.

Barring a crypto meltdown, Litecoin will likely steer clear of the second major support level at $131.72.

Ripple’s XRP Hits $0.44

Ripple’s XRP slipped by 0.8% on Thursday. Partially reversing a 2.09% rise from Wednesday, Ripple’s XRP ended the day at $0.43280.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.43784 before hitting reverse.

Falling short of the first major resistance level at $0.4425, Ripple’s XRP slid to a late intraday low $0.42117.

The reversal saw Ripple’s XRP fall through the first major support level at $0.42760 before a late move back through to $0.43 levels.

At the time of writing, Ripple’s XRP was up by 2.56% to $0.44250. A particularly bullish start to the day saw Ripple’s XRP rally from a morning low $0.43133 to a high $0.44609.

Ripple’s XRP broke through the first major resistance level at $0.4400 to come within range of the second major resistance level at $0.4473.

For the day ahead, a hold above $0.4380 levels through the morning would support a run at the second major resistance level at $0.4473.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.44609.

In the event of an extended crypto rally, Ripple’s XRP could strike $0.45 levels before any pullback.

Failure to hold above $0.4380 levels could see Ripple’s XRP hit reverse. A fall through to sub-$0.4310 levels would bring the first major support level at $0.4234 into play.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.42 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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