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Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Steadies

Bitcoin Cash ABC rose by 3.06% on Friday. Partially reversing a 4.8% slide from Thursday, Bitcoin Cash ABC ended the day at $220.0.

A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $211.33 before striking a morning high $218.57.

Falling short of the first major resistance level at $225.83, Bitcoin Cash ABC slid to a mid-afternoon intraday low $209.

Steering clear of the first major support level at $203.29, Bitcoin Cash ABC bounced back to a late intraday high $222.67.

In spite of the late rally, Bitcoin Cash ABC came up short of the first major resistance level at $225.83.

At the time of writing, Bitcoin Cash ABC was up by 0.5% to $221.10. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $218.88 before striking a high $221.10.

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

For the day ahead, a hold onto $220 levels would support a breakthrough the first major resistance level at $225.45.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Friday’s high $222.67.

Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to come up short of $230 levels on the day.

Failure to hold onto $220 levels could see Bitcoin Cash ABC resume the downward trend. A fall through to sub-$217 levels would bring the first major support level at $211.78 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer well clear of the second major support level at $203.55.

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Litecoin Back in the Red

Litecoin rose by 1.54% on Friday. Partially reversing a 4.03% slide from Thursday, Litecoin ended the day at $56.05.

A choppy start to the day saw Litecoin rise to an early morning high $55.75 before sliding to a mid-afternoon intraday low $52.61.

Steering well clear of the first major support level at $51.10, Litecoin rallied to a late intraday high $56.9 before easing back.

Litecoin came up short of the first major resistance level at $58.48 on the day.

At the time of writing, Litecoin was down by 0.7% to $55.66. A mixed start to the day saw Litecoin rise to an early morning high $56.49 before falling to a low $55.28.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, holding above $55.20 levels would support another run at the first major resistance level at $57.75.

Litecoin would need the support of the broader market, however, to break through to $57 levels.

Barring a broad-based crypto rebound, Friday’s high $56.9 would likely pin Litecoin back on the day.

Failure to hold above $55.20 could see Litecoin fell deeper into the red. A fall through to sub-$55 levels would bring the first major support level at $53.47 into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$52 support levels through the day.

Ripple’s XRP back at sub-$0.24

Ripple’s XRP fell by 0.28% on Friday. Following on from a 1.36% decline on Thursday, Ripple’s XRP ended the day at $0.24295.

Also mixed through the day, Ripple’s XRP rose to a mid-morning high $0.24522 before hitting reverse.

Falling short of the first major resistance level at $0.2533, Ripple’s XRP slid to a mid-afternoon intraday low $0.23404.

Ripple’s XRP came within range of the first major support level at $0.2315 before rallying to a late intraday high $0.24797.

Coming up against resistance at $0.25 Ripple’s XRP eased back into the red late in the day.

At the time of writing, Ripple’s XRP was down by 0.18% to $0.24252. A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.24562 before falling to a low $0.24192.

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

For the day ahead, a move back through to $0.2450 levels would bring the first major resistance level at $0.2493 into play.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.24562.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $0.24797 would likely limit any upside.

Failure to move back through to $0.2450 levels could see Ripple’s XRP struggle through the day.

A fall through to sub-$0.2410 levels would bring the first major support level at $0.2353 into play before any recovery.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.23 support levels, however.

Please let us know what you think in the comments below

Thanks, Bob

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