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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/12/19

Bob Mason

Bitcoin Cash – ABC – Holds Steady

Bitcoin Cash ABC ended the day flat on Monday. Following a 0.71% gain from Sunday, Bitcoin Cash ABC wrapped up the day at $214.72.

A choppy start to the day saw Bitcoin Cash ABC slide to a mid-morning intraday low $210.0 before finding support.

Bitcoin Cash ABC fell through the first major support level at $211.28 before striking a mid-afternoon intraday high $215.45.

Falling short of the first major resistance level at $218.44, Bitcoin Cash ABC slid back to through the first major support level to $211 levels.

Finding late support, Bitcoin Cash ABC moved back through the first major support level to reverse the losses from the day.

At the time of writing, Bitcoin Cash ABC was up by 0.65% to $216.11. A positive start to the day saw Bitcoin Cash ABC rise from an early morning low $214.7 to a high $216.11.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, a hold onto $216 levels would support a run at the first major resistance level at $216.78.

Bitcoin Cash ABC would need the support of the broader market, however, to avoid a pullback to $215 levels.

In the event of an extended rally through the day, the second major resistance level at $218.84 would likely come into play.

Failure to hold onto $216 levels could see Bitcoin Cash ABC hit reverse.

A fall through to $213.40 levels would bring the first major support level at $211.33 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $207.94.

Litecoin Finds Early Support

Litecoin slid by 4.06% on Monday. Reversing a 1.29% gain from Sunday, Litecoin ended the day at $45.57.

It was a particularly bearish start to the week. Litecoin slid from an early morning intraday high $47.64 to late afternoon intraday low $44.66.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $46.09.

Holding above the second major support level at $44.34, Litecoin managed to move back through to $45 levels to reduce the deficit on the day.

In spite of the late support, however, Litecoin failed to break back through the first major support level.

At the time of writing, Litecoin was up by 1.29% to $46.16. A bullish start to the day saw Litecoin rise from an early morning low $45.55 to a high $46.20.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, Litecoin would need to hold onto $46 levels to support a run at the first major resistance level at $47.11.

Support from the broader market would be needed, however, for Litecoin to break back through to $47 levels.

In the event of an extended rally through the day, Litecoin could visit $48 levels before any pullback.

Failure to hold onto $46 levels would bring the first major support level at $44.57 into play before any recovery.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$44 levels on the day.

Ripple’s XRP Revisits sub-$0.22 Levels

Ripple’s XRP fell by 2.59% on Monday. Following on from a 0.18% decline on Sunday, Ripple’s XRP ended the day at $0.22074.

A bearish start to the day saw Ripple’s XRP slide from an early morning intraday high $0.22767 to a late morning intraday low $0.21866.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2219.

Finding support in the late morning, Ripple’s XRP briefly recovered to $0.2220 levels before taking a 2nd hit.

Ripple’s XRP fell back through the first major support level at $0.2219 to sub-$0.22 levels.

In spite of a partial recovery to $0.22 levels late on, resistance at the first major support level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.76% to $0.22242. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.21999 to a high $0.22383.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, Ripple’s XRP would need to hold onto $0.22240 levels to support the recovery of Monday’s losses.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.22383.

Barring a broad-based crypto rally on the day, the first major resistance level at $0.2261 and Monday high $0.22767 would likely limit any upside.

Failure to hold onto $0.22240 levels could see Ripple’s XRP hit reverse.

A fall back through the morning low $0.21999 would bring the first major support level at $0.2170 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2133.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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