Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/06/19

Litecoin trails the pack early as Bitcoin’s return to $12,000 levels spurs the majors into action early on. It could get choppy…
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – on the Move

Bitcoin Cash ABC slipped by 0.63% on Tuesday. Partially reversing a 1.52% gain from Monday, Bitcoin Cash ABC ended the day at $474.23.

A bullish start to the day saw Bitcoin Cash ABC rise to an early intraday high $483.00 before hitting reverse.

Bitcoin Cash ABC came up against the first major resistance level at $482.74 before hitting reverse.

Bearish through the remainder of the morning, Bitcoin Cash ABC slid to a mid-day intraday low $461.08. The reversal saw Bitcoin Cash ABC fall through the first major support level at $466.27 before recovering to $467 levels.

At the time of writing, Bitcoin Cash ABC was up by 2.05% to $483.93. A particularly bullish start to the day saw Bitcoin Cash ABC rally from a morning low $462.00 to a high $495.00 before easing back.

Finding support at the first major support level at $462.54, Bitcoin Cash ABC broke through the first major resistance level at $484.46 and second major resistance level at $494.69.

For the day ahead, a hold above the first major resistance level at $484.46 would support another run at the second major resistance level at $494.69.

Bitcoin Cash ABC would need support from the broader market, however, to take a run at $500 levels.

Failure to hold above the first major resistance level could see Bitcoin Cash ABC hit reverse. A fall through to sub-480 levels would bring $460 levels back into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the first major support level at $462.54.

Litecoin Struggles On

Litecoin rose by just 0.13% on Tuesday. Partially reversing a 1.02% fall from Monday, Litecoin ended the day at $135.55.

A bullish start to the day saw Litecoin rise to an early morning high $136.8 before hitting reverse.

Tracking the broader market, Litecoin slid to a mid-day intraday low $129.00. Litecoin fell through the first major support level at $132.71 and second major support level at $130.15.

Finding support in the afternoon, Litecoin managed to recover to $133 levels ahead of a late rally to an intraday high $138.33. Litecoin broke through the first major resistance level at $137.24 before easing back to $135 levels.

At the time of writing, Litecoin was down by 0.3% to $135.15. A mixed start to the day saw Litecoin fall to a morning low $133.62 before striking a high $137.37.

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

For the day ahead, a hold onto $135 levels through the morning would support a recovery of the early losses. A move through to $137 levels would support a run at the first major resistance level at $139.59.

Failure to hold onto $135 levels through the morning could see Litecoin fall deeper into the red. A pullback through the morning low $133.62 would bring the first major support level at $130.26 into play.

Barring a broad-based crypto sell-off, Litecoin should steer clear of Tuesday’s low $129.00.

Ripple’s XRP in Recovery

Ripple’s XRP fell by 1.81% on Tuesday. Reversing a 0.76% gain from Monday, Ripple’s XRP ended the day at $0.46567.

Bearish through the morning, Ripple’s XRP fell from an early intraday high $0.47778 to a mid-day low $0.45461 before finding support.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.4567. A brief recovery to $0.47 levels was short-lived, with Ripple’s XRP sliding to a late intraday low $0.45215.

Ripple’s XRP fell back through the first major support level at $0.4567 before recovering to $0.46 levels.

At the time of writing, Ripple’s XRP was up by 2.22% to $0.47601. A mixed start to the day saw Ripple’s XRP fall to a morning low $0.45872 before making a move.

Steering clear of the major support levels, Ripple’s XRP rallied to a morning high $0.48097. The early rally saw Ripple’s XRP break through the first major resistance level at $0.4783.

For the day ahead, a move back through the first major resistance level at $0.4783 would support a run at the second major resistance level at $0.4908.

Ripple’s XRP would need support from the broader market, however, to break out from $0.48 levels.

Failure to move back through the first major resistance level could see Ripple’s XRP give up the morning gains.

A fall through $0.4650 levels would bring the first major support level at $0.4526 into play before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.45 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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