Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/04/19

Bitcoin Cash – ABC – Tracks the Pack

Bitcoin Cash ABC gained 1.23% on Tuesday. Following on from an 8.8% rally on Monday, Bitcoin Cash ABC ended the day at $316.22.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $323.81. Falling well short of the first major resistance level at $336.62, Bitcoin Cash ABC fell to an early afternoon intraday low $302.33 before recovering.

Holding above the first major support level at $290.62, Bitcoin Cash ABC struck $320 in the late afternoon. Positive sentiment across the broader market prevented a heavier pullback late in the day.

At the time of writing, Bitcoin Cash ABC was down by 0.58% to $314.38. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $321.78 to a low $312. In spite of the pullback, Bitcoin Cash ABC left the day’s major support levels untested.

For the day ahead, a move back through to $314 levels would support a run at the first major resistance level at $325.91. Support from the broader market would be needed, however, for a breakthrough to $320 levels.

Barring a crypto rally later in the day, Bitcoin Cash ABC will likely come up short of $330 levels on the day.

Failure to move through to $314 levels could see Bitcoin Cash ABC test the first major support level at $304.43. Barring a broad-based crypto rally, Bitcoin Cash ABC will likely steer clear of sub-$300 levels. In the event of a sell-off, the second major support level at $292.64 will likely limit the downside on the day.

Litecoin Recovers to $80

Litecoin gained 3.48% on Tuesday. Partially reversing a 6.6% slide from Monday, Litecoin ended the day at $80.89.

Tracking the broader market, Litecoin struck a late morning high $79.92 before falling to an early afternoon intraday low $77.18.

Steering well clear of the major support and resistance levels, Litecoin rallied to a late afternoon intraday high $81.86.

In spite of the late rally, Litecoin fell short of the 38.2% FIB of $83 and the first major resistance level at $83.66.

At the time of writing, Litecoin was down 0.25% to $80.69. A choppy start to the day saw Litecoin rise to a morning high $82.18 before hitting reverse. Falling short of the first major resistance level at $82.77, Litecoin fell to a morning low $79.98 before steadying. Litecoin left the major support levels untested early on.

For the day ahead, a hold onto $80 levels through the morning would support another run at $82 levels. Support from the broader market would be needed, however, for Litecoin to break through the first major resistance level at $82.77.

Barring a broad-based crypto rally, Litecoin will likely come up short of the 38.2% FIB of $83 on the day.

Failure to hold onto $80 levels could see Litecoin pullback to $78 levels before any recovery. Barring a broad-based crypto sell-off, however, Litecoin will likely steer clear of the first major support level at $78.09.

Ripple Finds Support

Ripple’s XRP rose by 2.5% on Tuesday. Partially reversing a 3.51% fall from Monday, Ripple’s XRP ended the day at $0.32778.

A relatively bullish start to the day saw Ripple’s XRP rise to a late morning high $0.3234 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP fell to an early afternoon intraday low $0.31727.

Holding well above the first major support level at $0.3098, Ripple’s XRP recovered to an intraday high $0.32732. In spite of the afternoon recovery, Ripple’s XRP continued to fall short of the first major resistance level at $0.3328.

At the time of writing, Ripple’s XRP was down by 0.6% to $0.32580. A bullish start to the day saw Ripple’s XRP rise to a morning high $0.32884 before hitting reverse. Falling short of the first major resistance level at $0.3310, Ripple’s XRP fell to a morning low $0.32461.

Ripple’s XRP held above the first major support level at $0.3209 in the early hours.

For the day ahead, a hold onto $0.3250 levels through the morning would support a recovery later in the day. A move through the morning high $0.32884 would bring the first major resistance level at $0.3310 into play.

Barring a broad-based crypto rally, Ripple’s XRP will likely come up short of the second major resistance level at $0.3342.

Failure to hold onto $0.3250 levels could see Ripple’s XRP take a bigger hit on the day. A fall through the morning low $0.32461 would bring the first major support level at $0.3209 into play.

Barring a crypto meltdown, sub-$0.32 levels will likely be avoided.

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