Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/02/19

Bitcoin Cash – ABC – Sees More Red

Bitcoin Cash ABC fell by 1.94% on Tuesday. Partially reversing a 5.85% rally from Monday, Bitcoin Cash ABC ended the day at $131.5.

A bullish start to the day saw Bitcoin Cash ABC rise to an intraday high $136.8 before hitting reverse.

Falling short of the first major resistance level at $138.74, Bitcoin Cash ABC fell to a late morning intraday low $130.43 before steadying.

The reversal saw Bitcoin Cash ABC fall back through the 38.2% FIB of $134 while steering clear of the first major support level at $128.57.

At the time of writing, Bitcoin Cash ABC was down by 1.29% to $129.8. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $131.79 to a low $129.8. Falling short of the first major resistance level at $135.11, Bitcoin Cash ABC came within range of the first major support level at $129.2.

For the day ahead, a move back through the morning high $131.79 to $132.8 levels would signal an intraday rally. A move through to $132.8 levels would bring the first major resistance level at $135.11 into play before any pullback. Barring a material shift in sentiment across the broader market, we would expect $136 levels to be left untouched on the day.

Failure to move back through the morning high could see Bitcoin Cash ABC fall deeper into the red. A fall through the first major support level at 129.2 would bring $127 levels into play before any recovery.

Barring a broad-based crypto meltdown, we would expect the second major support level at $126.82 to be left untested.

Litecoin Struggles On

Litecoin fell by 1.56% on Tuesday. Partially reversing a 4.13% gain from Monday, Litecoin ended the day at $44.66.

Bearish through the day, Litecoin fell from an early morning intraday high $45.7 to a late afternoon intraday low $44.05. The day’s major support and resistance levels were left untested throughout the day.

At the time of writing, Litecoin was down by 0.27% to $44.54. Recovering from an early morning low $44.2, Litecoin rose to a morning high $44.64 before easing back. The day’s major support and resistance levels were left untested early on.

For the day ahead, a move through the morning high $44.64 to $44.80 levels would bring $45 levels and the first major resistance level at $45.56 into play. Barring a broad-based crypto rebound, we would expect $46 levels and the second major resistance level at $46.45 to be left untested.

Tuesday’s high $45.7 and sentiment across the broader market will likely cap any upside in the event of a recovery.

Failure to move through to $44.80 levels could see Litecoin fall through the morning low $44.2 to test the first majors support level at $43.91. Should sentiment fail to improve in the event of a pullback, the second major support level at $43.15 could come into play.

We would expect sub-$43 support levels to be left untested, however.

Ripple Back to $0.32 Levels

Ripple’s XRP slid by 3.47% on Tuesday. Partially reversing a 10.34% rally from Monday, Ripple’s XRP ended the day at $0.32371.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.34277 before hitting reverse.

Falling short of the first major resistance level at $0.3539, Ripple’s XRP fell to an early afternoon intraday low $0.32024. Steering clear of the first major support level at $0.3102, Ripple’s XRP recovered to $0.33 levels before falling back.

At the time of writing, Ripple’s XRP was down by 1.12% to $0.32010. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.32421 to a low $0.31746. Holding above the first major support level at $0.3150, Ripple’s XRP recovered to $0.32 levels.

For the day ahead, a move through the morning high $0.32421 to $0.3290 levels would support a run at the first major resistance level at $0.3376. Sentiment across the broader market would need to materially improve, however, for Ripple’s XRP to take a run at Tuesday’s high $0.34277.

We would expect Ripple’s XRP to come up short of $0.35 levels for a 3^rd consecutive day.

Failing to move through the morning high to $0.3290 levels could see Ripple’s XRP lose more ground later in the day. A fall through the morning low $0.31746 would bring the first major support level at $0.3150 into play.

Barring a broad-based crypto sell-off, we would expect Ripple’s XRP to steer clear of sub-$0.31 support levels on the day.

Buy & Sell Cryptocurrency Instantly