Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/04/19

Bitcoin Cash – ABC – in Search of a Weekend Rally

Bitcoin Cash ABC fell by 0.55% on Saturday. Following on from a 3.14% slide on Friday, Bitcoin Cash ABC ended the day at $259.00.

Relatively range-bound through the day, Bitcoin Cash ABC fell to a mid-morning intraday low $256.92. The pullback saw Bitcoin Cash ABC hold well above the first major support level at $247.82.

Recovering through the afternoon, Bitcoin Cash ABC struck an intraday high $261.24 before easing back to sub-$260 levels. Bitcoin Cash ABC came up short of the first major resistance level at $265.75 on the day.

At the time of writing, Bitcoin Cash ABC was down by 0.05% to $258.88. A slow start to the day saw Bitcoin Cash ABC fall from an end of Saturday $259, leaving the major support and resistance levels untested.

For the day ahead, a move back through to $259 levels would bring the first major resistance level at $261.19 into play.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to breakout from $161 levels.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely come up short of the second major resistance level at $263.37. A rebound would bring $265 levels into play before any pullback.

Failure to move back through to $259 levels could see Bitcoin Cash ABC see a 6^th consecutive day in the red. A fall through to $258.3 levels would bring the first major support level at $256.87 into play.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$256 support levels on the day.

Litecoin Struggles On

Litecoin fell by 1.58% on Saturday. Reversing a 1.49% gain from Friday, Litecoin ended the day at $70.55.

A bearish start to the day saw Litecoin fall from an intraday high $71.83 to an early afternoon day low $70.38. Litecoin managed to recover to an early evening high $71.76 before hitting reverse. Negative sentiment from across the broader market led to a pullback to an intraday low $70.19.

Despite a relatively choppy day, Litecoin left the day’s major support and resistance levels untested.

At the time of writing, Litecoin was down by 0.35% to $70.30. A choppy start to the day saw Litecoin strike a morning high $70.83 before falling to a morning low $70.24. Litecoin steered clear of the major support and resistance levels early on.

For the day ahead, a move back through to $70.80 levels would be needed to support a move through to $71 levels. A breakthroug to $71 levels would bring the first major resistance level at $71.52 into play.

Support from the broader market would be needed, however, for Litecoin to take a run at $72 levels. Barring a broad-based crypto rebound, Litecoin would likely fall short of the second major resistance level at $72.50.

Failure to move back through to $70.80 levels could see Litecoin fall deeper into the red. A fall through to $70.10 levels would bring the first major support level at $69.88 into play.

Barring a crypto meltdown, Litecoin would likely avoid a return to sub-$69 levels. The Second major support level at $69.22 would limit the downside on the day.

Ripple Avoids a Return to Sub-$0.30

Ripple’s XRP fell by 1.12% on Saturday. Partially reversing a 6.34% gain from Friday, Ripple’s XRP ended the day at $0.30575.

By recent standards, it was a relatively range-bound Saturday for Ripple’s XRP. A start of a day intraday high $0.31097 saw Ripple’s XRP fall short of the first major resistance level at $0.3178.

A pullback through the morning saw Ripple’s XRP fall to a mid-day intraday low $0.30259 before finding support.

Steering clear of the first major support level at $0.2943, Ripple’s XRP recovered to an afternoon high $0.30759 before easing back.

At the time of writing, Ripple’s XRP was up by 0.42% to $0.30703. A bullish start to the day saw Ripple’s XRP rise from a morning low $0.30526 to a high $0.30726. Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a hold above $0.3065 levels would support another run at $0.31 levels later in the day. Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the first major resistance level at $0.3103.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of the second major resistance level at $0.3148.

Failure to hold above $0.3065 levels could see Ripple’s XRP hit reverse. A fall through the morning low $0.30526 would bring the first major support level at $0.3019 into play.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.30 support levels on the day.

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Thanks, Bob