Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/06/19

Bitcoin Cash – ABC – Touches a new 2019 High

Bitcoin Cash ABC rose by 1.9% on Wednesday. Reversing a 0.63% fall from Tuesday, Bitcoin Cash ABC ended the day at $483.93.

Bullish through much of the day, Bitcoin Cash ABC rallied from a morning low $462 to a late intraday high $516.

Bitcoin Cash ABC tested the first major support level at $462.54 before breaking through the first major resistance level at $484.46 and second major resistance level at $484.46.

The third major resistance level at $516.61 capped the upside before a late sell-off that saw Bitcoin Cash ABC slide to an intraday low $450.0.

Bitcoin Cash ABC fell back through the first major support level to test the second major support level at $450.85 before recovering.

At the time of writing, Bitcoin Cash ABC was down by 2.52% to $471.75. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $486.35 before falling to a low $467.37.

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

For the day ahead, a move back through to $483 levels would signal a recovery of the morning losses.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $486.35.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely come up short of the first major resistance level at $516.62.

Failure to move back through to $483 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through to $463 levels would bring the first major support level at $450.62 into play.

Litecoin Stumbles

Litecoin slid by 3.6% on Wednesday. Reversing a 0.13% rise from Tuesday, Litecoin ended the day at $130.64.

A mixed start to the day saw Litecoin fall to a mid-morning low $133.1 before striking a mid-day intraday high $138.21.

Falling short of the first major resistance level at $139.59, Litecoin slid to a late intraday low $122.46.

The reversal saw Litecoin fall through the first major support level at $130.26 and second major support level at $124.96.

Finding support from the broader market, Litecoin managed to recover to $130 levels late on.

At the time of writing, Litecoin was down by 1.89% to $128.17. A mixed start to the day saw Litecoin rise to a morning high $132.11 before sliding to a low $127.45.

Litecoin left the major support and resistance levels untested in the early hours.

For the day ahead, a move back through to $130 levels would be needed for Litecoin to take a run at the first major resistance level at $138.41

Barring a crypto rebound, Litecoin will likely continue to come up short of $140 levels. Wednesday’s high and the first major resistance level should cap any upside in the event of a rebound.

Failure to move back through to $130 levels could see Litecoin struggle on the day. A fall back through the morning low to $125 levels would bring the first major support level at $122.66 into play.

Ripple’s XRP Loses Ground

Ripple’s XRP fell by 1.27% on Wednesday. Following on from a 1.81% decline on Tuesday, Ripple’s XRP ended the day at $0.45935.

A bullish start to the day saw Ripple’s XRP rally from an early intraday low $0.45872 to a late afternoon intraday high $0.49342.

The rally saw Ripple’s XRP broke through the first major resistance level at $0.4783 and second major resistance level at $0.4908.

A late broad-based crypto sell-off did the damage, however, with Ripple’s XRP sliding to an intraday low $0.44374.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4526 before recovering to $0.45 levels.

At the time of writing, Ripple’s XRP was down by 2.04% to $0.4500. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.46433 to a low $0.44959.

In spite of the early pullback, Ripple’s XRP steered clear of the first major support level at $0.4376.

For the day ahead, a move back through to $0.4650 levels would support a run at $0.48 levels.

Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.4873.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of Wednesday’s high $0.49342.

Failure to move back through to $0.4873 could see Ripple’s XRP take another hit later in the day.

A pullback through to $0.44500 levels would bring the first major support level at $0.4376 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.43 support levels on the day.

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Thanks, Bob