Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/04/19

It’s a positive start to the day, but we’ve been here before. Moves through key levels would be needed to support upward momentum through the day.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Slides through the Weekend

Bitcoin Cash ABC slid by 4.07% on Sunday. Following on from a 0.55% fall on Saturday, Bitcoin Cash ABC ended the week down 14.4% to $248.34.

A relatively range-bound morning saw Bitcoin Cash ABC rise from a morning low $257.21 to a late morning intraday high $262.

The early move saw Bitcoin Cash ABC break through the first major resistance level at $261.19 before hitting reverse.

A late afternoon sell-off saw Bitcoin Cash ABC slide through the major support levels to an intraday low $243.07. Bitcoin Cash ABC was unable to move back through the third major support level at $250.41 and 38.2% FIB before the day’s end.

Of greatest significance through the day was a pullback through the 38.2% FIB of $255…

At the time of writing, Bitcoin Cash ABC was up by 0.22% to $248.90. Moves through the early morning saw Bitcoin Cash ABC fall to a morning low $243.95 before recovering.

Holding above the first major support level at $240.27, Bitcoin Cash ABC rose to a morning high $248.9. Bitcoin Cash ABC left the major resistance levels untested.

For the day ahead, a move through $250 would support a run at the first major resistance level at $259.20. Support from the broader market would be needed, however, for Bitcoin Cash ABC to breakout from $255 levels.

Failure to move through to $250 levels could see Bitcoin Cash ABC resume the downward trend. A fall through Sunday’s low $243.07 would bring the first major support level at $240.27 into play.

Litecoin Gives up $70

Litecoin slid by 3.93% on Sunday. Following on from a 1.58% fall from Saturday, Litecoin ended the week down 12.3% at $67.78.

A relatively bearish start to the day saw Litecoin fall from an intraday high $70.83 to a morning low $69.51. Testing the first major support level at $69.88, Litecoin recovered to $70 levels ahead of an afternoon sell-off.

The sell-off saw Litecoin slide through the major support levels to a late intraday low $66.77. The only positive of the day was a move back through the third major support level at $67.58 late on.

At the time of writing, Litecoin was up by 0.32% to $68.00. Moves through the early morning saw Litecoin rise from a morning low $67.46 to a high $68.15. Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move through $68.50 levels would support a run at $70 levels and the first major resistance level at $70.15. Barring a broad-based crypto rebound, Litecoin would likely come up short of the second major resistance level at $72.52. The weekend high $71.83 would likely cap the upside on the day.

Failure to move through $68.50 levels could see Litecoin hit reverse. A fall through the morning low $67.46 would bring $66 levels back into play before any recovery.

Barring a crypto meltdown, the first major support level at $66.09 would likely limit the downside on the day.

Ripple Holds onto $0.30

Ripple’s XRP rose by 1.32% on Sunday. Reversing a 1.12% fall on Saturday, Ripple’s XRP ended the week down 4.32% at $0.30952.

A bullish start to the day saw Ripple’s XRP rally to a late morning intraday high $0.31397 before easing back.

Ripple’s XRP broke through the first major resistance level at $0.3103 and second major resistance level at $0.3148.

Easing back through the afternoon, Ripple’s XRP fell to an intraday low $0.30404 before moving back into the green. In spite of the late pullback, Ripple’s XRP left the major support levels untested on the day.

At the time of writing, Ripple’s XRP was up by 0.16% to $0.31. A range-bound start to the day saw Ripple’s XRP rise from a morning low $0.30857 to a high $0.31080. Ripple’s XRP left the day’s major support and resistance levels untested in the early hours.

For the day ahead, a move back through to $0.31 levels would support a run at the first major resistance level at $0.3143. Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.32 levels on the day. The second major resistance level at $0.3191 would cap any upside on the day.

Failure to move back through to $0.31 levels could see Ripple’s XRP slide back into the red. A fall back through the morning low $0.30857 would bring the first major support level at $0.3044 into play.

Barring a crypto sell-off, Ripple’s XRP would likely steer clear of sub-$0.30 levels. In the event of a sell-off, a visit to $0.28 levels could be on the cards before any recovery.

Please let us know what you think in the comments below

Thanks, Bob

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