Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/10/19
Bitcoin Cash – ABC – Bucks the Trend Early
Bitcoin Cash ABC fell by 0.1% on Thursday. Partially reversing a 0.45% gain from Wednesday, Bitcoin Cash ABC ended the day at $223.29.
A choppy start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $225.28 before hitting reverse.
Your capital is at risk
Falling short of the first major resistance level at $226.15, Bitcoin Cash ABC slid to a late afternoon intraday low $216.87.
The sell-off saw Bitcoin Cash ABC fall through the first major support level at $222.36 and second major support level at $219.84.
Late in the day, Bitcoin Cash ABC found support to move back through to $220 levels to limit the downside on the day.
At the time of writing, Bitcoin Cash ABC was down by 0.99% to $221.08. A bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $223.13 to a low $217.87.
Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $218.35 before finding support.
For the day ahead, a move back through to $221.80 levels would support a rebound later in the day.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $223.13.
Barring a broad-based crypto rebound, the first major resistance level at $226.76 would likely cap any upside.
Failure to move back through to $221.80 levels could see Bitcoin Cash ABC fall deeper into the red. A fall back through the first major support level could see Bitcoin Cash ABC test the second major support level at $213.4.
Litecoin in the Red again
Litecoin rose by 0.02% on Thursday. Following a 1.07% gain from Wednesday, Litecoin ended the day at $56.44.
Tracking the broader market, Litecoin slid from an early morning high $56.61 to an early afternoon intraday low $53.62.
Litecoin fell through the first major support level at $55.56 and second major support level at $54.68
Holding above the third major support level at $53.23, Litecoin recovered to a late intraday high $57.05.
The late break out saw Litecoin come up against the first major resistance level at $57.01 before easing back in the final hour.
At the time of writing, Litecoin was down by 0.51% to 56.15. A bearish start to the day saw Litecoin slide from an early morning high $56.68 to a mid-morning low $55.24.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a hold onto $56 levels through the morning would support another run at $57 levels.
Litecoin would need the support of the broader market, however, to break through the first major resistance level at $57.79.
Failure to hold onto $56 levels could see Litecoin slide back to $54 levels before any recovery.
Barring an extended sell-off, the first major support level at $54.36 should limit the downside on the day.
Ripple’s XRP Gives up on $0.25
Ripple’s XRP fell by 2.61% on Thursday. Reversing a 2.03% rise from Wednesday, Ripple’s XRP ended the day at $0.24767.
Tracking the broader market through the morning, Ripple’s XRP slid from an early morning intraday high $0.25472 to an early afternoon intraday low $0.24250.
The reversal saw Ripple’s XRP fall through the first major support level at $0.2487 and the second major support level at $0.2435.
Through the 2nd half of the day, Ripple’s XRP managed to break back through the second major support level.
Bearish sentiment, however, left Ripple’s XRP at sub-$0.25 levels on the day.
At the time of writing, Ripple’s XRP was up by 0.21% to $0.24820. A mixed start to the day saw Ripple’s XRP strike an early morning high $0.25036 before falling to a low $0.24529.
Steering clear of the major support and resistance levels, Ripple’s XRP found support to move back into the green.
For the day ahead, a move back through to $0.2490 levels would support a run at the first major resistance level at $0.2541.
A shift in sentiment across the broader market would be needed, however, for Ripple’s XRP to take a run at Thursday’s high $0.25472.
Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.26 levels for a 3rd consecutive day.
Failure to move back through to $0.2490 levels could see Ripple’s XRP hit reverse. A fall back through the morning low $0.24529 would bring the first major support level at $0.2419 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.24 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob