Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/06/19
Bitcoin Cash – ABC – Sees Red
Bitcoin Cash ABC rose by 2.24% on Sunday. Reversing a 2.38% fall from Saturday, Bitcoin Cash ABC ended the week up 1.83% at $443.25.
A relatively bullish start to the day saw Bitcoin Cash ABC rise from an early intraday low $433.54 to a mid-day intraday high $450.
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Steering clear of the first major support level at $424.85, Bitcoin Cash ABC broke through the first major resistance level at $443.74.
Falling short of the second major resistance level at $455.17, Bitcoin Cash ABC eased back to $430 levels before finding support.
The first major resistance level at $443.74 pinned Bitcoin Cash ABC back at the end of the day.
At the time of writing, Bitcoin Cash ABC was down 3.63% to $427.18. After a relatively range-bound early part of the day, a mid-morning sell-off pulled Bitcoin Cash ABC deep into the red.
Bitcoin Cash ABC fell from an early morning high $446.53 to a mid-morning low $427.18. Steering clear of the major resistance levels Bitcoin Cash ABC fell through the first major support level at $434.53.
For the day ahead, a move back through to $435 levels would signal a recovery of the early losses.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to move back into the green.
A broad-based crypto rebound could see Bitcoin Cash ABC take a run at the first major resistance level at $450.99 later in the day.
Failure to move back through to $435 levels would see Bitcoin Cash ABC struggle through the day. A fall back through the morning low $427.18 bring the second major support level at $425.8 into play before any recovery.
Litecoin on the Slide
Litecoin rose by 1.8% on Sunday. Reversing a 1.72% loss on Saturday, Litecoin ended the week up 1.8% to $114.55.
Tracking the broader market, Litecoin rose from an early morning intraday low $111.9 to a mid-day intraday high $116.65.
Holding above the first major support level at $110.28, Litecoin broke through the first major resistance level at $115.39 before easing back.
A pullback to $112 levels was short-lived, with Litecoin finding support through the afternoon to end the week in the green.
At the time of writing, Litecoin was down 1.05% to $113.35. A choppy start to the day saw Litecoin rise to a morning high $116.11 before hitting reverse. Falling short of the first major resistance level at $116.83, Litecoin fell through the first major support level at $112.08.
For the day ahead, a move back through to $114.4 levels would signal a bullish 2nd half of a day. Litecoin would need support from the broader market, however, to break out from any move through to $115 levels.
Barring a broad-based crypto rebound, Litecoin would likely come up short of the first major resistance level at $116.83.
Failure to move back through to $114 4 levels could see Litecoin fall deeper into the red. A pullback through the first major support level at $112.08 would bring the second major support level at $109.62 into play.
Barring an extended sell-off, however, Litecoin would likely steer clear of sub-$110 levels on the day.
Ripple Holds onto $0.44
Ripple’s XRP gained 3.7% on Sunday. Reversing a 2.01% fall from Saturday, Ripple’s XRP ended the week up 8.6% to $0.44455.
Bullish through the morning, Ripple’s XRP rose from an early intraday low $0.4275 to a mid-day intraday high $0.44751.
Steering clear of the first major support level at $0.4173, Ripple’s XRP broke through the first major resistance level at $0.4405.
A pullback in the early afternoon saw Ripple’s XRP fall back to $0.43 levels before finding support.
At the time of writing, Ripple’s XRP was down 0.53% to $0.44220. A bullish start to the day saw Ripple’s XRP strike a morning high $0.46582 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.4522 and second major resistance level at $0.4599.
A mid-morning sell-off saw Ripple’s XRP fall to a morning low $0.43730 before recovering to $0.44 levels.
For the day ahead, a move back through to Sunday’s high $0.4475 would support another run at the first major resistance level at $0.4522.
Ripple’s XRP would need support from the broader market, however, to break out from $0.4475 levels.
Failure to move back through Sunday’s high could see Ripple’s XRP take another hit later in the day.
A pullback through to $0.43 levels would bring the first major support level at $0.4322 into play.
Barring a crypto meltdown, however, Ripple’s XRP would likely steer clear of sub-$0.42 levels on the day.
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