Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/12/19
Bitcoin Cash – ABC – Avoids another Tumble
Bitcoin Cash ABC rose by 0.71% on Sunday. Partially reversing a 3.23% slide on Saturday, Bitcoin Cash ABC ended the week up 7.22% at $215.52.
A bearish start to the day saw Bitcoin Cash ABC slide to a late morning intraday low $209.95 before finding support.
Your capital is at risk
Bitcoin Cash ABC fell through the first major support level at $212.75. Bitcoin Cash ABC came within range of the second major support level at $209.28 before making a move.
The bounce-back saw Bitcoin Cash ABC rise to an early afternoon intraday high $217.11 before easing back to $215 levels.
In spite of the early afternoon rebound, Bitcoin Cash ABC came up short of the first major resistance level at $221.94.
For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$214.20 levels to support further gains.
A move through Sunday’s high $217.11 would bring the first major resistance level at $218.44 into play.
Barring a broad-based crypto rebound, however, Bitcoin Cash ABC would likely fall short of $220 for a 2nd consecutive day.
Failure to steer clear of sub-$214.2 levels would bring the first major support level at $211.28 into play before any recovery.
Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $207.03.
Litecoin Finds Support
Litecoin rose by 1.29% on Sunday. Partially reversing a 2.86% slide from Saturday, Litecoin ended the week up by 8.90% to $47.85.
A particularly bearish start to the day saw Litecoin slide to an early morning intraday low $45.51 before finding support.
Litecoin fell through the first major support level at $46.37 to come within range of the second major support level at $45.48.
Recovering through the late morning, Litecoin struck an early afternoon intraday high $48.44.
Coming up against the first major resistance level at $48.49, Litecoin slipped back to $47 levels.
Support late in the day, however, delivered the upside on the day.
At the time of writing, Litecoin was down by 0.21% to $47.40. A mixed start to the day saw Litecoin fall from an early morning high $47.64 to a low $47.07 before finding support.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high $47.64 would bring the first major resistance level at $49.02 into play.
Litecoin would need the support of the broader market to break out from Sunday’s high $48.44.
Barring a broad-based crypto rally, however, Litecoin would likely come up short of $49 levels on the day.
Failure to move back through the morning high could see Litecoin slide deeper into the red.
A fall through to $47.20 levels would bring the first major support level at $46.37 into play before any recovery.
Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$45 support levels.
Ripple’s XRP Holds Steady
Ripple’s XRP fell by 0.18% on Sunday. Following on from a 2.19% slide on Saturday, Ripple’s XRP ended the week up by 1.97% to $0.22630.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.21991 before finding support.
Falling through the first major support level at $0.2232, Ripple’s XRP found support at the second major support level at $0.2198.
Recovering through the late Ripple’s XRP broke back through the first major support level to an early afternoon high $0.22641.
Falling short of the major resistance levels, however, Ripple’s XRP fell back to $0.221 levels before striking a late intraday high $0.22688.
In spite of the 2nd breakout, Ripple’s XRP fell well short of the first major resistance level at $0.2318.
At the time of writing, Ripple’s XRP was down by 0.24% to $0.22576. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.22767 to a low $0.22480.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would bring the first major resistance level at $0.2288 into play.
Ripple’s XRP would need to steer clear of sub-$0.2250 levels, however, to support a move back into positive territory.
Barring a broad-based crypto rebound on the day, Ripple’s XRP would likely fall short of $0.23 levels for a 2nd consecutive day.
Failure to steer clear of sub-$0.2250 levels would bring the first major support level at $0.2219 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2174.
Please let us know what you think in the comments below
Thanks, Bob