Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/07/19

It’s a bearish start to the day as the majors give up Saturday’s gains. It’s all eyes on Bitcoin…
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Bucks the Trend Early

Bitcoin Cash ABC rallied by 5.57% on Saturday. Reversing a 2.01% fall from Friday, Bitcoin Cash ABC ended the day at $325.

Bullish from the start of the day, Bitcoin Cash ABC rallied from an early intraday low $307.86 to a late afternoon intraday high $343.65.

Bitcoin Cash ABC broke through the first major resistance level at $316.71 and second major resistance level at $325.57.

Whilst steering well clear of the major support levels on the day, Bitcoin Cash ABC came up short of the 38.2% FIB of $359.

At the time of writing, Bitcoin Cash ABC was up by 1.05% to $328.42. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $331 before easing back.

Falling short of the first major resistance level at $343.15, Bitcoin Cash ABC fell to a morning low $321.41 before finding support. Bitcoin Cash ABC steered well clear of the first major support level at $307.36 early on.

For the day ahead, a hold above $325 levels would support another run at the first major resistance level at $343.15.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $331.

Barring a broad-based crypto rally, Saturday’s high $343.65 and the first major resistance level should limit any upside on the day.

Failure to hold above $325 levels could see Bitcoin Cash ABC test the first major support level at $307.36.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$300 support levels on the day.

Litecoin Hits Reverse

Litecoin rose by 1.86% on Saturday. Partially reversing a 2.61% fall from Friday, Litecoin ended the day at $100.48.

A choppy morning saw Litecoin recover from an early intraday low $97.53 to strike a morning high $101.64.

Steering clear of the major support and resistance levels, Litecoin eased back to $98 levels before hitting an intraday high $106.04.

A late pullback limited the upside on the day.

Whilst steering clear of the support and resistance levels, the 38.2% FIB of $99 continued to be in play.

At the time of writing, Litecoin was down by 2.2% to $98.27. Tracking the broader market, Litecoin struck an early morning high $101.86 before hitting reverse.

Litecoin fell to a morning low $96.77 before recovering to $98 levels. The reversal saw Litecoin fall through the 38.2% FIB of $99 to come within range of the first major support level at $96.66.

For the day ahead, a move back through to $101 levels would support a run at the first major resistance level at $105.17.

Litecoin would need the support of the broader market, however, to break out from $101 levels.

Barring a broad-based crypto rebound, Litecoin would likely continue to struggle at the 38.2% FIB.

Failure to move back through to $101 levels could see Litecoin fall deeper into the red. A fall through the first major support level at $96.66 could bring the second major support level at $92.84 into play.

Ripple’s XRP back at $0.32 Levels

Ripple’s XRP gained 4.19% on Saturday. Following a 0.26% fall from Friday, Ripple’s XRP ended the day at $0.33278.

A bullish start to the day saw Ripple’s XRP rise from an early intraday low $0.31822 to a morning high $0.3330.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3246 and second major resistance level at $0.3297.

Recovering from pullback to $0.32 levels, Ripple’s XRP rallied to a late intraday high $0.34097.

Ripple’s XRP broke back through the first and second major resistance levels. Ripple’s XRP came up short of the third major resistance level at $0.3422, however.

At the time of writing, Ripple’s XRP was down by 1.47% to $0.32788. A mixed start to the day saw Ripple’s XRP hit a morning high $0.33501. Tracking the broader market, Ripple’s XRP fell back to a morning low $0.3260.

In spite of the early moves, Ripple’s XRP steered clear of the major support and resistance levels early on.

For the day ahead, a move back through to $0.33 levels would support another run at the first major resistance level at $0.3431.

Ripple’s XRP would need support form the broader market, however, to break out from Saturday’s high $0.34097.

Barring a broad-based crypto rally, Saturday’s high and the first major resistance level should limit any upside on the day.

Failure to move back through to $0.33 levels could see Ripple’s XRP struggle on the day. A fall through the morning low $0.326 would bring the first major support level at $0.3203 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.31 support levels.

Please let us know what you think in the comments below

Thanks, Bob

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