Bitcoin Cash, Litecoin and Ripple Daily Analysis – 26/06/18

Bitcoin Cash Holding On

Bitcoin Cash slipped by 0.54% on Monday, following Sunday’s 2.06% fall, to end a choppy day at $757.7.

A relatively range bound start to the day saw Bitcoin Cash find support through the late morning, with Bitcoin Cash moving through to an intraday high $779.8 before reversing, the day’s high falling well short of the first major resistance level at $791.67 and the 23.6% FIB Retracement Level of $942.

An almost immediate reversal saw Bitcoin Cash fall to an intraday low $733.6 before recovering to $750 levels by the day’s end, the afternoon low holding well above the first major support level at $680.77, with Bitcoin Cash managing to steer clear of sub-$700 levels on the day.

At the time of writing, Bitcoin Cash was down 0.53% to $748.9, with Bitcoin Cash pulling back to an early $741 low before partially recovering from a start of the day $758.1 morning high, the early moves leaving the first major support and first major resistance levels untested early on.

For the day ahead, a broad based pullback in the cryptomarket in the early hours could see Bitcoin come under pressure following some range bound moves, Bitcoin Cash needing to move back through the morning’s $758.1 high to support a run at the first major resistance level at $780.47.

Failure to move back through the morning’s high could see Bitcoin Cash pullback in the late morning towards Monday’s $733.6 low that would bring the day’s first major support level at $734.27 into play, the extended bearish trend still intact.

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Litecoin Looking to Buck the Trend

Litecoin gained 1.34% on Monday, partially reversing Sunday’s 3.6% slide, to end the day at $81.68.

An early pullback saw Litecoin fall to a morning intraday low $78.8 before recovering to $80 levels, the day’s first major support level left untested through the day.

Following the broader market trend, a late morning rally saw Litecoin move through to an intraday high $84.49 that fell just shy of the first major resistance level at $84.79 before pulling back to $81 levels by the day’s end.

At the time of writing, Litecoin was down 0.05% to $81.63 in what’s been a particularly range bound start to the day, the morning’s 82.01 high and $80.84 low steering well clear of the day’s first major resistance and support levels.

For the day ahead, a move back through to $82 levels would support a run at the day’s first major resistance level at $84.51, though sentiment across the market will need to improve through the morning to support another attempted breakout.

Failure to move back through to $82 levels could see Litecoin pullback through the morning’s $80.84 low to bring the day’s first major support level at $78.82 into play, Litecoin having slipped through to sub-$80 levels for a second consecutive day on Monday, the extended bearish trend firmly intact.

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Ripple in Reverse Once More

Ripple’s XRP gained 1.42% on Monday, reversing Sunday’s 2.71% fall, to end the day at $0.48287, marking a 4^th consecutive day end at sub-$0.50 levels.

Following the broader market, Ripple’s XRP hit an intraday low $0.46946 in the late morning before a bounce took Ripple’s XRP to an intraday high $0.49422, the day’s major support and resistance levels left untested in what was a relatively range bound day by recent standards.

At the time of writing, Ripple’s XRP was down 0.53% to $0.47999, with a start of the day $0.48574 high falling well short of the first major resistance level at $0.4949 before a pullback to a morning $0.47328 low that saw Ripple’s XRP hold above the first major support level at $0.4701.

For the day ahead, Ripple’s XRP would need to move back through the start of the day $0.48574 high to support a run at the first major resistance level at $0.4949, with the crypto bulls needing a move through to $0.50 levels to bring the 23.6% FIB Retracement Level of $0.5671 into play and begin forming a bearish trend reversal.

Failure to move through the morning’s high would likely see Ripple’s XRP pullback through the early morning $0.47378 low to bring the first major support level at $0.4701 into play, with any reversal through to sub-$0.47 levels likely to see Ripple’s XRP take a bigger hit later in the day before support kicks in.

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