Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/05/19

It’s a choppy start to the day, but the bulls have the momentum after Sunday’s afternoon rebound…
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Makes a Move

Bitcoin Cash ABC rallied by 6.73% on Sunday. Following a 0.17% fall from Saturday, Bitcoin Cash ABC ended the week up 3.51% at $430.59.

A choppy start to the day saw Bitcoin Cash ABC slide to a late morning intraday low $389.48 before rebounding.

The reversal saw Bitcoin Cash ABC fall through the first major support level at $400.01 and second major support level at $393.51.

Rallying through the afternoon, Bitcoin Cash ABC surged to a late intraday high $439 before easing back. Bitcoin Cash ABC broke through the major resistance levels before falling through the third major resistance level at $435.51.

At the time of writing, Bitcoin Cash ABC was down by 0.14% to $430.00. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $439.60 before falling to a low $428.12.

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

For the day ahead, a hold above $425 levels through the morning would support upward momentum later in the day.

A move through the morning high $439.60 would bring $445 levels into play before any pullback.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the first major resistance level at $449.90.

Failure to hold above $425 levels could see Bitcoin Cash ABC slide through to sub-$420 levels before any recovery.

Barring a broad-based crypto reversal, Bitcoin Cash ABC would likely steer clear of the first major support level at $400.38.

Litecoin Hits a New 2019 High

Litecoin jumped by 9.16% on Sunday. Partially reversing a 2.34% gain from Saturday, Litecoin ended the week up 18.45% to $112.56.

Tracking the broader market, Litecoin fell from a morning high $104.2 to a late morning intraday low $99.00.

The reversal saw Litecoin test the first major support level at $99.56 before finding support from the broader market.

Litecoin rallied to a late intraday high $114.5 before easing back. The afternoon rally saw Litecoin break through the first major resistance level at $105.71 and second major resistance level at $108.41.

The third major resistance level at $114.56 pinned Litecoin back on the day.

At the time of writing, Litecoin was down by 0.33% to $112.19. Moves in the early hours saw Litecoin rise to a morning high $114.25 before falling to a morning low $111.35.

A relatively range-bound start to the day saw Litecoin leave the major support and resistance levels untested.

For the day ahead, steering clear of sub-$110 levels would support a rebound later in the day. A move through the morning high $114.25 would bring the first major resistance level at $118.37 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from $114 levels.

A fall through to sub-$110 levels would bring the first major support level at $102.87 into play before any recovery.

Barring a crypto meltdown, Litecoin would likely leave sub-$100 support levels untested on the day. In the event of a sell-off, $95 levels could come into play before any recovery.

Ripple Makes a Splash

Ripple’s XRP gained 6.66% on Sunday. Reversing a 0.6% rise on Saturday, Ripple’s XRP ended the week down 2.08% at $0.40924.

Struggling through the morning, Ripple’s XRP fell from a start of a day morning high $0.38705 to a mid-day intraday low $0.3760.

Ripple’s XRP fell through the first major support level at $0.3798 before finding support from the broader market.

An afternoon rally saw Ripple’s XRP break through the major resistance levels before easing back through the third major resistance level at $0.4157.

At the time of writing, Ripple’s XRP was down by 0.02% to $0.40916. A choppy start to the day saw Ripple’s XRP rise to a morning high $0.421 before falling to a low $0.40892.

Whilst leaving the major support and resistance levels untested, Ripple’s XRP broke through the 23.6% FIB of $0.4164 before easing back.

For the day ahead, a break back through the 23.6% FIB would support a run at the first major resistance level at $0.4264.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the 23.6% FIB.

Failure to break back through the 23.6% FIB could see Ripple’s XRP struggle through the day. A slide through $0.4010 levels would bring $0.39 levels into play before any recovery.

Barring a broad-based crypto sell-off, however, Ripple’s XRP will likely steer clear of the first major support level at $0.3841.

Please let us know what you think in the comments below

Thanks, Bob

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