Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 31/03/19

Bitcoin Cash – ABC – Sees Red Again

Bitcoin Cash ABC fell by 1.67% on Saturday. Reversing a 1.17% rise from Friday, Bitcoin Cash ABC ended the day at $167.

Bearish through the day, Bitcoin Cash ABC fell from a start of a day intraday high $170.66 to an intraday low $164.17.

The start of the day high saw Bitcoin Cash ABC come within range of the first major resistance level at $170.97 before hitting reverse.

The reversal saw Bitcoin Cash ABC fall through the first major support level at $167.47 and second major support level at $164.17. A partial recovery through the late afternoon saw Bitcoin Cash ABC recover through the second major support level.

At the time of writing, Bitcoin Cash ABC was down 1.2% to $165.0. The early pullback from the end of Saturday $167 left the major support and resistance levels untested early on.

For the day ahead, a move back through to $167 levels would be needed for Bitcoin Cash ABC to take a run at $170 levels. Support from the broader market would be needed for Bitcoin Cash ABC support a breakthrough the first major resistance level at $170.38. Barring a broad-based rally, we would expect Bitcoin Cash ABC to continue to struggle at $170 levels on the day.

Failure to move through to $167 levels could see Bitcoin Cash ABC fall further back on the day. A fall through Saturday’s low $164.17 would bring the first major support level at $163.89 into play. Barring a crypto meltdown, we would expect Bitcoin Cash ABC to avoid heavier losses on the day.

Litecoin Touches sub-$60 Levels

Litecoin fell by 1.66% on Saturday. Reversing a 1.59% rise from Friday, Litecoin ended the day at $60.25

Tracking the broader market, Litecoin slid from an intraday high $61.37 to a late afternoon intraday low $59.71.

Falling short of the first major resistance level at $61.8, Litecoin fell through the first major support level at $60.23. Steering clear of the second major support level at $59.24, Litecoin recovered back through the 23.6% FIB of $60.

At the time of writing, Litecoin was down by 0.4% to $60.01. A bearish start to the day saw Litecoin fall from a morning high $60.35 to a low $59.76 before finding support. While leaving the major support and resistance levels untested, Litecoin fell through the 23.6% FIB of $60 early on.

For the day ahead, a move back through to $60.40 levels would signal another run at $61 levels later in the day. A recovery across the broader market would bring the first major resistance level at $61.18 into play. Barring a broad-based crypto rally, however, we would expect Litecoin to continue to fall short of $62 levels.

Failure to move through to $60.40 levels could see Litecoin struggle through the day. A fall through the morning low $59.76 would bring the first major support level at $59.52 into play. Barring a crypto sell-off, we would expect Litecoin to avoid heavier losses on the day.

Ripple Bucks the Trend

Ripple’s XRP rose by 0.93% on Saturday. Following on from a 0.69% rise on Friday, Ripple’s XRP ended the day at $0.31629.

A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.31252 to an intraday high $0.32393.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3165 and second major resistance level at $0.3195 before easing back.

The pullback saw Ripple’s XRP fall to $0.3140 levels before breaking back through the first major resistance level.

It was a first visit to $0.32 levels since 21^st March.

At the time of writing, Ripple’s XRP was down by 0.86% to $0.31358. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.31647 to a low $0.31254. In spite of the early losses, Ripple’s XRP steered clear of the day’s major support and resistance levels.

For the day ahead, a move back through to $0.3170 levels would bring $0.32 levels and the first major resistance level at $0.3226 into play. Ripple’s XRP would need support from the broader market, however, to make a move following Saturday’s trend-bucking gain.

Failure to move through to $0.3170 could see Ripple’s XRP take a bigger hit later in the day. A fall through the morning low $0.31254 would bring the first major support level at $0.3112 into play. Barring an extended sell-off through the day, however, we would expect Ripple’s XRP to steer clear of sub-$0.31 support levels.

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