Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/06/19

The bulls were firmly in control going into the weekend, with Bitcoin striking $10,000, the cryptomarket is on high…
Bob Mason
Cryptomania

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC rallied by 5.13% on Friday. Reversing a 0.94% fall on Thursday, Bitcoin Cash ABC ended the business week up 2.34% to $436.6.

A bullish morning saw Bitcoin Cash ABC rally from an intraday low $415.28 to a late morning intraday high $444.0.

Steering clear of the first major support level at $406.01, Bitcoin Cash ABC broke through the major resistance levels.

A slide back to $423 levels in the early afternoon was the only bearish move of the day before recovering to $430 levels. Bitcoin Cash ABC broke back through the second major resistance level at $425.48.

At the time of writing, Bitcoin Cash ABC was up by 0.84% to $440.29. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $436.65 to a high $442.0 before easing back.

In spite of the early move, Bitcoin Cash ABC left the major support and resistance levels untested.

For the day ahead, a move back through the morning high $442.0 would support a run at the first major resistance level at $448.64.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from Friday’s high $444.0.

In the event of a broad-based crypto rally, Bitcoin Cash ABC could touch $450 levels before any pullback.

Failure to move back through the morning high $442.0 could see Bitcoin Cash ABC hit reverse. A fall through the morning low $436.65 would bring $420 levels into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of the first major support level at $419.92.

Litecoin Trailed the Pack

Litecoin rose by 2.36% on Friday. Reversing a 0.5% decline on Thursday, Litecoin ended the business week up 1.49% to $139.04.

Tracking the broader market, Litecoin rallied from a morning low $135.83 to a late morning intraday high $141.53.

Litecoin broke through the first major resistance level at $137.64 and second major resistance level at $139.28.

An early afternoon reversal saw Litecoin slide to an intraday low $135.35 before finding support.

Steering clear of the first major support level at $133.86, Litecoin recovered to $139 levels late in the day.

At the time of writing, Litecoin was down by 0.55% to $138.27. A bearish start to the day saw Litecoin fall from a morning high $139.32 to a low $138.04.

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

For the day ahead, a move back through to $138.70 levels would support a return to $140 levels later in the day.

Litecoin would need the support of the broader market, however, to break through the first major resistance level at $141.93.

Barring a broad-based crypto rally, Friday’s high $141.53 and the first major resistance level would likely limit any upside on the day.

Failure to move back through to $138.70 levels could see Litecoin slide deeper into the red. A fall through to $136 levels would bring the first major support level at $135.75 into play.

Barring a broad-based crypto sell-off, Litecoin would likely steer clear of sub-$130 levels. The second major support level at $132.46 should limit any downside on the day.

Ripple’s XRP Touches $0.45

Ripple’s XRP gained 3.28% on Friday. Reversing a 0.8% fall from Thursday, Ripple’s XRP ended the day at $0.44610. For the current week, Ripple’s XRP was up by 4.13%.

A bullish morning saw Ripple’s XRP rally from an intraday low $0.43133 to a late morning intraday high $0.45123.

Ripple’s XRP broke through the first major resistance level at $0.4400 and second major resistance level at $0.4473.

A pullback to $0.43 levels in the early afternoon was short-lived, with Ripple’s XRP recovering to $0.44 levels to hold above the first major resistance level at $0.4400.

At the time of writing, Ripple’s XRP was down by 0.43% to $0.44416. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.44616 to a low $0.44322 before steadying.

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

For the day ahead, a hold above $0.4430 through the morning would support a recovery later in the day.

Ripple’s XRP would need to move through the morning high $0.44616, however, to break back through to $0.45 levels.

In the event of a rebound, Ripple’s XRP would likely test the first major resistance level at $0.4544.

Barring a broad-based crypto rally, Ripple’s XRP will likely fall short of the second major resistance level at $0.4628.

Failure to move back through the morning high could see Ripple’s XRP slide to $0.43 levels before any recovery.

The first major support level at $0.4345 should limit the downside on the day.

Please let us know what you think in the comments below

Thanks, Bob

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