Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/06/19

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 1.52% on Monday. Reversing a 1.67% fall from Sunday, Bitcoin Cash ABC ended the day at $477.25.

A start of a day intraday low $460.78 saw Bitcoin Cash ABC fall through the first major support level at $463.63 before finding support.

Bitcoin Cash ABC rose to late morning high $476.5 before falling back to $465 levels and into the red. Support from the broader market kicked in late in the day, leading to an intraday high $477.25 at the day end.

At the time of writing, Bitcoin Cash ABC was up by 0.79% to $481.00. A mixed start to the day saw Bitcoin Cash ABC fall to a morning low $473.58 before finding support.

Steering clear of the first major support level at $466.26, Bitcoin Cash ABC struck a morning high $482.46 before easing back. The first major resistance level at $482.74 pinned Bitcoin Cash ABC back early on.

For the day ahead, a move back through the first major resistance level would support a run at the second major resistance level at $488.23.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $482 levels.

Failure to move back through the first major resistance level could see Bitcoin Cash ABC pullback to sub-$480 levels.

A fall through $471 levels would bring the first major support level at $466.27 into play before any recovery. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$460 levels.

Litecoin Holds Steady

Litecoin fell by 1.02% on Monday. Following on from a 3.34% slide on Sunday, Litecoin ended the day at $135.26.

A bearish start to the day saw Litecoin fall from an intraday high $136.66 to an early morning low $133.21. Litecoin fell through the first major support level at $133.84 before recovering to $136 levels.

A second pullback in the late afternoon saw Litecoin slide back through the first major support level to an intraday low $132.13.

Steering clear of the second major support level at $131.02, Litecoin managed to limit the losses on the day, with a move back through to $135 levels.

At the time of writing, Litecoin was up by 0.58% to $136.04. A mixed start to the day saw Litecoin rise to a morning high $136.8 before easing back. Falling short of the first major resistance level at $137.24, Litecoin fell to a morning low $134.86 before finding support. Litecoin left the major support levels untested early on.

For the day ahead, a hold onto $135 levels through the morning would support another run at the first major resistance level at $137.24.

For the bulls, Litecoin would need a broad-based crypto rally, however, to bring $137 levels into play.

Failure to hold onto $135 levels could see Litecoin see red for a 3^rd consecutive day. A fall through $134.6 levels would bring the first major support level at $132.71 into play before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $130.15 and sub-$130 levels.

Ripple’s XRP Avoids the Red

Ripple’s XRP rose by 0.76% on Monday. Partially reversing a 1.5% fall from Sunday, Ripple’s XRP ended the day at $0.47402.

A bearish start to the day saw Ripple’s XRP fall from a morning high $0.47046 to an early intraday low $0.44627.

Ripple’s XRP slid through the first major support level at $0.4595 and second major support level at $0.4482 before finding support.

Ripple’s XRP recovered to $0.46 levels and a relatively range-bound afternoon. A late rally saw Ripple’s XRP move through to $0.47 levels and strike an intraday high $0.47627 to avoid red on the day.

At the time of writing, Ripple’s XRP was down by 0.39% to $0.47215. A choppy start to the day saw Ripple’s XRP rise to a morning high $0.47778 before hitting reverse.

Coming up short of the first major resistance level at $0.4809, Ripple’s XRP fell to a morning low $0.46762 before finding support. Ripple’s XRP left the major support levels untested early on.

For the day ahead, a hold onto $0.47 levels through the morning would support another run at the first major resistance level at $0.4809.

Ripple’s XRP would need support from the broader market, however, to break out from $0.47 levels.

In the event of a crypto rally, the second major resistance level at $0.4878 could come into play before any pullback.

Failure to hold onto $0.47 levels could see Ripple’s XRP test the first major support level at $0.4567 before any recovery.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.44 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob