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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/12/19

Bob Mason

Bitcoin Cash – ABC – Slides Again

Bitcoin Cash ABC fell by 3.23% on Saturday. Reversing a 1.49% gain from Friday, Bitcoin Cash ABC ended the day at $216.22.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $224.19 before hitting reverse.

Falling short of the first major resistance level at $226.53, Bitcoin Cash ABC slid to a late afternoon intraday low $215.00.

Bitcoin Cash ABC fell through the first major support level at $220.25 and the second major support level at $217.06.

A brief move back through the second major support level was short-lived, with Bitcoin Cash ABC closing out at $216 levels.

At the time of writing, Bitcoin Cash ABC was down by 1.03% to $214.00. A bearish start to the day saw Bitcoin Cash ABC fall from an end of Saturday $215.00 to an early morning low $214.00.

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

For the day ahead, a move through to $218.50 levels would support a run at the first major resistance level at $221.94.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $220 levels.

Barring a broad-based crypto rebound, resistance at $220 would likely limit any upside on the day.

Failure to move through to $218.50 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through to $213 levels would bring the first major support level at $212.75 into play.

Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of sub-$210 levels.

Litecoin Back at sub-$47

Litecoin fell by 2.86% on Saturday. Partially reversing a 3.88% rally from Friday, Litecoin ended the day at $47.26.

A relatively bullish start to the day saw Litecoin rise to an early morning intraday high $48.83 before succumbing to market forces.

Falling short of the first major resistance level at $49.75, Litecoin tumbled to a late afternoon intraday low $46.71.

Litecoin fell through the first major support level at $47.23 before finding support late in the day.

Whilst moving back through to $47 levels, the first major support level pinned Litecoin back at the day end.

At the time of writing, Litecoin was down by 2.07% to $46.28. A bearish start to the day saw Litecoin fall from an early morning high $47.24 to a low $46.02.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $46.37.

For the day ahead, Litecoin would need to break through the first major support level to $47.60 levels to support a run at $48 levels.

Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $48.49.

Barring a broad-based crypto rebound, resistance at $48 would likely cap any upside on the day.

Failure to move back through the first major support level could see Litecoin fall back to sub-$46 levels.

Barring an extended sell-off through the day, however, the second major support level at $45.48 should limit any downside.

Ripple’s XRP Tracks the Pack

Ripple’s XRP fell by 2.19% on Saturday. Partially reversing a 3.23% rally from Friday, Ripple’s XRP ended the day at $0.22670.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.23349 before hitting reverse.

Falling short of the first major resistance level at $0.2358, Ripple’s XRP slid to a late afternoon intraday low $0.22491.

Ripple’s XRP fell through the first major support level at $0.2254 before finding late support.

At the time of writing, Ripple’s XRP was down by 0.93% to $0.22460. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.22688 to a low $0.22165 before finding support.

Ripple’s XRP fell through the first major support level at $0.2232 early before moving back to $0.2240 levels.

For the day ahead, a move through to $0.2285 levels would support a run at the first major resistance level at $0.2318.

Support from the broader market would be needed, however, to break out from the morning high $0.22688.

Barring a broad-based crypto rebound, resistance at $0.23 would likely cap any upside on the day.

Failure to move through to $0.2285 levels could see Ripple’s XRP spend a 2nd consecutive day in the red.

A fall back through the first major support level at $0.2232 would bring sub-$0.22 levels into play.

Barring a crypto meltdown, the second major support level at $0.2198 should limit any downside, however.

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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