Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/06/19

It’s a mixed start to the day saw Litecoin lose more ground against the majors. The rest of the pack were on the move early on.
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC surged by 9.93% on Saturday. Following on from a 5.13% rally on Friday, Bitcoin Cash ABC ended the day at $480.

A choppy start to the day saw Bitcoin Cash ABC rise from a morning low $436.65 to an early afternoon high $465.0.

Bitcoin Cash ABC broke through the first major resistance level at $448.64 and second major resistance level at $460.68.

An early afternoon slide to an intraday low $431.61 saw Bitcoin Cash ABC steer clear of the first major support level at $431.61 before rallying to an intraday high and new swing hi $515.70.

The rally saw Bitcoin Cash ABC break through the major resistance levels before easing back through the third major resistance level at $489.40.

At the time of writing, Bitcoin Cash ABC was up by 0.99% to $484.74. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $475.05 to a morning high $498.0 before easing back.

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

For the day ahead, a move back through the morning high $498 would support a run at the first major resistance level at $519.93. A broad-based crypto rally would bring $520 levels into play.

Bitcoin Cash ABC would need support from the broader market, however, to break out from $500 levels.

Failure to move back through the morning high could see Bitcoin Cash ABC hit reverse. A fall through the morning low to $468 levels would bring $450 levels into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of the first major support level at $443.02.

Litecoin Sees Red

Litecoin gained 1.6% on Saturday. Following on from a 2.36% rise from Friday, Litecoin ended the day at $141.46.

A relatively choppy day saw Litecoin rise to an early morning high $143.55 before sliding back to sub-$140 levels.

The early moves saw Litecoin break through the first major resistance level at $141.93. An early afternoon rally saw Litecoin strike an intraday high and new swing hi $146.0 before sliding to an intraday low $137.35.

Litecoin broke through the first major resistance level at $141.93 and second major resistance level at $144.82, while steering clear of the major support levels.

At the time of writing, Litecoin was down by 0.13% to $141.27. Litecoin rose to a morning high $142.2 before falling back to a low $140.27.

The relatively range-bound start to the day saw Litecoin steer clear of the major support and resistance levels.

For the day ahead, a hold onto $141 levels would support another run at the first major resistance level at $145.79.

Litecoin would need support from the broader market to take a run at the second major resistance level at $150.11.

Failure to hold onto $141 levels could see Litecoin fall through to $138 levels before any recovery.

Barring a broad-based crypto sell-off, Litecoin would likely leave the first major resistance level at $137.35 untested.

Ripple’s XRP Hits $0.51 Levels

Ripple’s XRP rallied by 7.15% on Saturday. Following on from a 3.28% rise on Friday, Ripple’s XRP ended the day at $0.4780.

A bullish morning saw Ripple’s XRP rally from an intraday low $0.44322 to an early afternoon intraday high $0.51.

Ripple’s XRP broke through the major resistance levels before easing back to $0.46 levels. Finding support late in the day, Ripple’s XRP managed to hold above the second major resistance level at $0.4628

At the time of writing, Ripple’s XRP was up by 0.67% to $0.48120. A relatively range-bound start to the day saw Ripple’s XRP rise to a morning high $0.49328 before easing to a low $048259.

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

For the day ahead, a move back through to $0.49 levels would support a run at the first major resistance level at $0.5109.

Ripple’s XRP would need support from the broader market, however, to break through to $0.50 levels.

Barring a broad-based crypto rally, Saturday’s high $0.5100 and the first major resistance level at $0.5109 would likely limit any upside on the day.

Failure to move back through to $0.49 levels could see Ripple’s XRP slide through to $0.45 levels before any recovery.

Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of the first major support level at $0.4441.

Please let us know what you think in the comments below

Thanks, Bob

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