Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/07/19

It’s a mixed start to the day for the majors. Failure to break through the pivot points could lead to more losses on the day.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Holds onto $300

Bitcoin Cash ABC slid by 4.48% on Saturday. Reversing a 4.7% gain from Friday, Bitcoin Cash ABC ended the day at $306.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $325 before hitting reverse.

Falling short of the first major resistance level at $327.94, Bitcoin Cash ABC slid to an early afternoon intraday low $298.67.

Finding support at the first major support level at $298.54, Bitcoin Cash ABC recovered to $300 levels late in the day.

At the time of writing, Bitcoin Cash ABC was down by 0.33% to $305. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $306.19 before falling to a low $302.10.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC recovered to $305 levels.

For the day ahead, a move through to $310 levels would bring $320 levels back into play. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $321.11.

Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $325 would limit any upside.

Failure to move through to $310 levels could see Bitcoin Cash ABC give up more ground on the day. A fall back through the morning low $302.10 would bring the first major support level at $298.78 into play.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$290 support levels on the day.

Litecoin Struggles at $90

Litecoin slid by 5.75% on Saturday. Reversing a 1.1% gain from Friday, Litecoin ended the day at $88.87.

A bullish start to the day saw Litecoin strike an early intraday high 96.53 before hitting reverse.

Litecoin broke through the first major resistance level at $95.94 before sliding to an early afternoon intraday low $86.57.

The sell-off saw Litecoin fall through the first major support level at $91.46 and second major support level at $88.58.

Finding support late in the day, Litecoin managed to move back to $88 levels to reduce the deficit on the day.

At the time of writing, Litecoin was up by 0.6% to $89.40. A bearish start to the day saw Litecoin fall to an early morning low $87.5 before finding support.

Steering clear of the first major support level at $84.78, Litecoin recovered to a morning high $90.14 before easing back. Litecoin left the major resistance levels untested early on.

For the day ahead, a move through to $90.70 levels would support a run at the first major resistance level at $94.74. Litecoin would need the support of the broader market, however, to break out from $91 levels.

Barring a crypto rally, the first major resistance level and Saturday’s high $96.53 would likely pin Litecoin back from the 38.2% FIB of $99.

Failure to move through to $90.70 levels could see Litecoin slide back into the red. A fall back through the morning low $87.5 would bring the first major support level at $84.78 into play.

Barring another crypto meltdown, Litecoin should steer clear of the second major support level at $80.70.

Ripple’s XRP Back at $0.31 Levels

Ripple’s XRP fell by 4.31% on Saturday. Reversing a 3.14% gain from Friday, Ripple’s XRP ended the day at $0.30945.

Tracking the broader market, Ripple’s XRP struck an early intraday high $0.32836 before hitting reverse. Falling short of the major resistance levels, Ripple’s XRP slid to a mid-afternoon intraday low $0.30398.

Ripple’s XRP fell through the first major support level at $0.3122 before finding support. A brief return to $0.31 levels was short-lived, with Ripple’s XRP ending the day at sub-$0.31 levels for the first time since Tuesday.

At the time of writing, Ripple’s XRP was up by 0.37% to $0.31058. Recovering from an early morning low $0.30772, Ripple’s XRP hit a morning high $0.31260 before easing back.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move through the morning high $0.3126 to $0.3140 levels would support recovery from Saturday’s losses.

A move through to $0.3140 levels would bring the first major resistance level at $0.3239 into play.

Barring a broad-based crypto rally, the first major resistance level, and Saturday’s high would leave $0.33 levels out of reach.

Failure to move through to $0.3140 levels would see Ripple’s XRP hit reverse. A fall through the morning low $0.30772 would bring the first major support level at $0.2995 into play before any recovery.

Please let us know what you think in the comments below

Thanks, Bob

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