Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 31/07/19

The majors are on the move early on. A Bitcoin move through to $10,000 would be a boost for the majors.
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – and the Bounce Back

Bitcoin Cash ABC rallied by 5.95% on Tuesday. Reversing a 1.88% fall from Monday, Bitcoin Cash ABC ended the day at $321.03.

Bullish throughout the day, Bitcoin Cash ABC rallied from an early morning intraday low $302.84 to a late afternoon intraday high $324.

Bitcoin Cash ABC broke through the first major resistance level at $311.27 and second major resistance level at $317.77. In the early hours, Bitcoin Cash ABC steered clear of the first major support level at $300.01.

At the time of writing, Bitcoin Cash ABC was up by 3.23% to $331.4. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $322 to a high $337.

The early rally saw Bitcoin Cash ABC break through the first major resistance level at $329.07. The second major resistance level at $337.12 limited the upside early on.

For the day ahead, a hold above the first major resistance level would support another run at the second major resistance level at $337.12.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $337 levels.

Failure to hold above the first major resistance level could see Bitcoin Cash ABC give up some of the morning gains.

A fall through to $315 levels would bring the first major support level at $307.91 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$315 levels on the day.

Litecoin Finds Support

Litecoin rose by just 0.08% on Tuesday. Following on from a 0.14% gain on Monday, Litecoin ended the day at $90.33.

A bearish start to the day saw Litecoin slide to an early morning intraday low $88.43. Steering clear of the first major support level at $87.51, Litecoin bounced back to an afternoon intraday high $92.73.

Coming up against the first major resistance level at $92.7, Litecoin slid back to sub-$90 before a late move back into the green.

At the time of writing, Litecoin was up by 2.41% to $92.51. A bullish start to the day saw Litecoin rise from a morning low $90.01 to a high $92.9.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $92.56.

For the day ahead, a move back through the first major resistance level at $92.56 would support another run $93 levels.

Litecoin would need the support of the broader market, however, to take a run at the second major resistance level at $94.80.

Barring a broad-based crypto rally, Litecoin would likely come up short of $94 level on the day.

Failure to move back through the first major resistance level could see Litecoin hit reverse. A fall through to $90.50 levels would bring the first major support level at $88.26 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$90 levels on the day.

Ripple’s XRP revisits $0.32 Levels

Ripple’s XRP rose by 2.8% on Tuesday. Reversing a 0.51% fall from Monday, Ripple’s XRP ended the day at $0.3186.

A bearish start to the day saw Ripple’s XRP fall to an early intraday low $0.30607. Holding above the first major support level at $0.3054, Ripple’s XRP rallied to a mid-afternoon intraday high $0.32183.

Ripple’s XRP broke through the major resistance levels before easing back. In spite of the pullback, Ripple’s XRP held above the first major resistance level at $0.3144 at the day end.

At the time of writing, Ripple’s XRP was up by 0.15% to $0.31907. A choppy start to the day saw Ripple’s XRP strike a morning high $0.321 before pulling back to a low $0.31725.

In spite of the choppy start, Ripple’s XRP steered clear of the major support and resistance levels early on.

For the day ahead, a hold above $0.3150 levels would support another run at the first major resistance level at $0.3249.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.321.

Barring a broad-based crypto rally, Tuesday’s high $0.32183 and the first major resistance level would likely limit any upside.

Failure to hold above $0.315 levels would see Ripple’s XRP slide back to sub-$0.31 levels before any recovery.

Barring a crypto meltdown, the first major support level at $0.3092 should limit any downside on the day.

In the event of a broad-based crypto sell-off, the second major support level at $0.2997 could come into play before any recovery.

Please let us know what you think in the comments below

Thanks, Bob

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