Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/07/19

It’s back in the red for the majors that are eying a 4th consecutive day in the red. Bitcoin at below the 38.2% FIB is a warning sign…
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Continues to Slide

Bitcoin Cash ABC fell by 3.12% on Tuesday. Following on from a 3.05% fall from Monday, Bitcoin Cash ABC ended the day at $298.67.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $314.05 before hitting reverse.

Falling short of the major resistance levels, Bitcoin Cash ABC slid to an early afternoon intraday low $291.25.

Bitcoin Cash ABC fell through the first major support level at $299.96 before recovering to $300 levels. A late pullback left Bitcoin Cash ABC at sub-$300 levels at the day end.

At the time of writing, Bitcoin Cash ABC was down by 4.39% to $285.56. A particularly bearish start to the day saw Bitcoin Cash ABC fall from a morning high $296.15 to a low $283.

Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $288.60 early on.

For the day ahead, a move back through to $290 levels would support a run at $300 levels. Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $296.15.

Barring a broad-based crypto rebound, Bitcoin Cash ABC will fall short of the first major resistance level at $311.4.

Failure to move back through to $290 levels could see Bitcoin Cash ABC test the second major support level at $278.52.

Barring another crypto meltdown, Bitcoin Cash ABC should steer clear of the 62% FIB of $262 on the day.

Litecoin Sees sub-$90

Litecoin tumbled by 5.36% on Tuesday. Following on from a 4.66% slide from Monday, Litecoin ended the day at $90.02.

A bearish start to the day saw Litecoin slide from an early intraday high $95.12 to an early afternoon intraday low $88.23.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $90.39 before finding support.

Litecoin bounced back to $94 levels before sliding back in the final hour to test the first major support level for a 2nd time.

At the time of writing, Litecoin was down by 1.58% to $88.6. Tracking the broader market, Litecoin fell from a morning high $90.02 to a low $86.11 before finding support.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $87.13 early on.

For the day ahead, a move through the morning high to $91.12 levels would support a positive afternoon ahead.

Litecoin would need to break through the first major resistance level at $94.02, however, to bring Tuesday’s high $95.12 into play.

Barring a broad-based crypto rebound, Litecoin would likely struggle to break out from $91 levels.

Failure to move through to $91 levels could see Litecoin slide deeper into the red. A fall back through the first major support level at $87.13 would bring $85 levels into play.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $84.23.

Ripple’s XRP Holds onto $0.30 Levels

Ripple’s XRP slid by 3.81% on Tuesday. Following on from a 2.92% fall from Monday, Ripple’s XRP ended the day at $0.30799.

Tracking the broader market, Ripple’s XRP slid from an early intraday high $0.3028 to a late afternoon intraday low $0.30573.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.3128. Ripple’s XRP held above the second major support level at $0.3048 to recover to $0.3160 levels.

A broad-based crypto sell-off late in the day left Ripple’s XRP back at sub-$0.31 levels at the day end.

At the time of writing, Ripple’s XRP was down by 0.52% to $0.30638. A relatively bearish start to the day saw Ripple’s XRP fall from a morning high $0.30861 to a low $0.30259.

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

For the day ahead, a move back through the morning high to $0.3110 levels would be needed to deliver a day in the green.

Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.3169.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall well short of $0.32 levels on the day.

Failure to move through to $0.3110 levels could see Ripple’s XRP slide deeper into the red. A fall through the morning low $0.30259 would bring the first major support level at $0.3024 into play.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.30 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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