Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/03/19
Bitcoin Cash – ABC – Looking to Make a Move
Bitcoin Cash ABC slipped by 0.24% on Wednesday. Following on from a 0.66% fall on Tuesday, Bitcoin Cash ABC ended the day at $127.1.
A bearish start to the day saw Bitcoin Cash ABC fall to a late morning intraday low $125.8 before finding support. The pullback saw Bitcoin Cash ABC slide through the first major support level at $126.33.
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Recovering through to the early afternoon, Bitcoin Cash ABC rose to an intraday high $127.89 before easing back. The major resistance levels were left untested on the day.
At the time of writing, Bitcoin Cash ABC was up by 2.42% to $130.17. A particularly bullish start to the day saw Bitcoin Cash ABC rally to an intraday high $133.87 before pulling back. The early rally saw Bitcoin Cash ABC break through the day’s major resistance levels before falling through the third major resistance level at $131.14.
A start of a day morning low $128.5 left the first major support level at $125.96 untested.
For the day ahead, a hold onto $130 levels through the morning would support another run at $131 levels. Barring a broad-based crypto rally, however, we would expect Bitcoin Cash ABC to come up short of $133 levels. The third major resistance level at $131.14 would likely pin back a second run through to $133 levels.
Failure to hold onto $130 levels could see Bitcoin Cash ABC give up the morning gains. A fall through to $128 levels would be on the cards in the event of a reversal. We would expect Bitcoin Cash ABC to hold well above the first major support level at $125.96, however.
Litecoin – in Recovery
Litecoin fell by 2.03% on Wednesday. Reversing most of Tuesday’s 2.82% gain, Litecoin ended the day at $55.06.
Litecoin slid to a late morning intraday low $54.12 before steadying. Holding above the first major support level at $53.33, Litecoin struck an early afternoon intraday high $56.46.
Falling short of the first major resistance level at $57.88, Litecoin fell back to $54 levels before recovering to $55 levels.
At the time of writing, Litecoin was up by 0.62% to $55.40. A bullish start to the day saw Litecoin rise to a morning high $55.83 before easing back. Falling short of the first major resistance level at $56.31, Litecoin eased back to $55 levels. A start of a day morning low $54.78 steered clear of the major support levels.
For the day ahead, a hold above $55.20 levels would support another run at the first major resistance level at $56.31. Barring a broad-based crypto rally, however, we would expect Litecoin to come up short of $57 levels. The first major resistance level and the current week’s high $56.96 will likely pin Litecoin back on the day.
Failure to hold above $55.20 could see Litecoin fall through to $54 levels. A broad-based crypto sell-off would bring $53 levels and the first major support level at $53.97 into play before any recovery.
Ripple Bucked the Trend
Ripple’s XRP rose by 1.11% on Wednesday. Following on from a 0.04% gain on Tuesday, Ripple’s XRP ended the day at $0.32012.
A range-bound morning saw Ripple’s XRP ease to a late morning intraday low $0.31344 before making a move. Holding above the first major support level at $0.3127, Ripple’s XRP rallied to an intraday high $0.33265.
Ripple’s XRP broke through the first major resistance level at $0.3192 and second major resistance level at $0.3217. A visit to $0.33 levels was the first time since 1sts March before pulling back through the afternoon.
At the time of writing, Ripple’s XRP was up by 0.13% to $0.32054. Moves through the early hours saw Ripple’s XRP rise to a morning high $0.323 before easing back. The pullback saw Ripple’s XRP fall a morning low $0.31945 before recovering to $0.32 levels. The day’s major support and resistance levels were left untested early on.
For the day ahead, a move through to $0.3220 levels would support another run at $0.33 levels later in the day. Ripple’s XRP would need support from the broader market, however, to break out from the first major resistance level at $0.3307. A broad-based crypto rally could see Ripple’s XRP take a run at $0.34 levels before easing back. The second major resistance level at $0.3413 would likely pin Ripple’s XRP back from more material gains in the event of a rally.
Failure to move through to $0.3220 levels could see Ripple’s XRP hit reverse later in the day. A fall through the morning low $0.31945 would bring the first major support level at $0.3115 into play. Barring a crypto meltdown, however, we would expect Ripple’s XRP to avoid sub-$0.31 levels on the day.