Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/06/19

Bitcoin Cash – ABC – Eases Back

Bitcoin Cash ABC fell by 1.67% on Sunday. Partially reversing a 9.93% bounce from Saturday, Bitcoin Cash ABC ended the week up 11.22% to $474.45.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $498 before hitting reverse.

Falling short of the first major resistance level at $519.93, Bitcoin Cash ABC fell back to a morning low $472.05 before finding support.

Bitcoin Cash ABC recovered to $493.66, late in the day, before sliding back to an intraday low $470.00. Bitcoin Cash ABC steered well clear of the first major support level at $435.84 on the day.

At the time of writing, Bitcoin Cash ABC was down by 1.49% to $467.37. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $473.78 before falling to a low $460.78.

The pullback saw Bitcoin Cash ABC fall through the first major support level at $463.63 before finding support.

For the day ahead, a move back through the morning high $473.78 to $480 levels would support a run at the first major resistance level at $491.63.

Bitcoin Cash ABC would need support from the broader market, however, to break out from $480 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of $490 levels on the day.

Failure to move back through the morning high to $480 levels could see Bitcoin Cash ABC fall deeper into the red.

A fall back through the first major support level at $463.63 would bring the second major support level at $452.82 into play.

Litecoin Stumbles

Litecoin slid by 3.34% on Sunday. Reversing a 1.6% gain from Saturday, Litecoin ended the week down 0.25% at $136.66.

Bearish through most of the day, Litecoin fell from an early intraday high $142.2 to a late morning low $139.0 before finding support.

Steering clear of the major support and resistance levels, Litecoin hovered at around $140 before a late sell-off. The sell-off saw Litecoin slide through the first major support level at $137.35 to a final hour intraday low $135.2.

At the time of writing, Litecoin was down by 1.28% to $134.91. Tracking the broader market, Litecoin fell from a morning high $136.66 to a low $133.21.

The early sell-off saw Litecoin fall through the first major support level at $133.84 before finding support.

For the day ahead, a move back through the morning high to $138 levels would support a run at the first major resistance level at $140.84.

Litecoin would need support from the broader market, however, to break out from $138 levels.

Barring a broad-based crypto rebound, the first major resistance level at $140.84 would likely limit any upside on the day.

Failure to move through to $138 levels could see Litecoin struggle through the day.  A fall back through the first major support level at $133.84 could bring $132 levels into play.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $131.02.

Ripple’s XRP back at sub-$0.46 Levels

Ripple’s XRP fell by 1.5% on Sunday. Partially reversing a 7.15% rally from Saturday, Ripple’s XRP ended the week up 9.9% to $0.47086.

A bullish start to the daw saw Ripple’s XRP strike an early intraday high $0.49328 before hitting reverse.

Falling well short of the first major resistance level at $0.5109, Ripple’s XRP fell to a late morning low $0.47 before recovering to $0.489 late in the day.

A final hour sell-off saw Ripple’s XRP slide to an intraday low $0.46506 before recovering to $0.47 levels.

In spite of the late pullback, Ripple’s XRP held well above the first major support level at $0.4441.

At the time of writing, Ripple’s XRP was down by 3.09% to $0.45632. A particularly bearish start to the day saw Ripple’s XRP slide from a morning high $0.47046 to a low $0.44627 before steadying.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4595 and second major support level at $0.4482.

For the day ahead, a move back through the morning high $0.47046 to $0.4770 levels would support a run at $0.48 levels.

Ripple’s XRP would need support from the broader market, however, to break through the first major resistance level at $0.4877.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of Sunday’s high $0.49328 on the day.

Failure to move back through the morning high $0.47046 to $0.4770 levels could see Ripple’s XRP see heavier losses.

A fall back through the second major support level at $0.4482 could bring $0.43 levels into play before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the third major support level at $0.4200.

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Thanks, Bob