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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/04/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC gained 5.12% on Friday. Partially reversing a 10.81% slide from Thursday, Bitcoin Cash ABC ended the day at $283.34.

Another bearish start to the day saw Bitcoin Cash ABC slide from a morning high $273.56 to an intraday low $257.39. Holding above the major support levels and 38.2% FIB of $255, Bitcoin Cash ABC found support through the late morning.

Bitcoin Cash ABC bounced back to a mid-day intraday high $289.13 before easing back. In spite of the recovery, Bitcoin Cash ABC fell short of the major resistance levels and the 23.6% FIB of $291 on the day.

At the time of writing, Bitcoin Cash ABC was down by 0.47% to $282.0. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $283.4 to a low $281.81 before steadying.

Bitcoin Cash ABC steered clear of the major support and resistance levels in spite of the pullback.

For the day ahead, a hold onto $280 levels through the morning would support a bounce back later in the day. A move through Friday’s high $289.13 would bring the 23.6% FIB of $291 into play before any pullback. A broad-based crypto rally would be needed, however, for Bitcoin Cash ABC to take a run at the first major resistance level at $295.85.

Failure to hold onto $280 levels could see Bitcoin Cash ABC slide through $276 levels to bring the first major support level at $264.11 into play. Barring another crypto meltdown, however, we would expect Bitcoin Cash ABC to steer clear of sub-$260 levels.

Litecoin Struggles at $80

Litecoin fell by 0.38% on Friday. Following a 10.4% slide from Thursday, Litecoin ended the day at $78.92.

Tracking the broader market, Litecoin slid from a morning high $79.31 to an intraday low $75.44 before finding support.

Steering clear of the major support levels, Litecoin recovered to a late morning intraday high $81.2 before easing back. In spite of the recovery, Litecoin fell short of the major resistance levels and 38.2% FIB of $83.

On the day, Litecoin’s failure to hold onto $80 levels will be a red flag for the bulls.

At the time of writing, Litecoin was up by 1.17% to $79.84. A relatively bullish start to the day saw Litecoin rise from a morning low $78.57 to a high $79.9. Litecoin left the day’s major support and resistance levels untested, while also falling short of the 38.2% FIB of $83.

For the day ahead, a hold onto $79 levels through the morning would support a run at $80 levels later in the day. Support from the broader market would bring the first major resistance level at $81.60 into play before any pullback. Barring a broad-based crypto rally, Litecoin will likely fall short of the 38.2% FIB of $83 on the day.

Failure to hold onto $79 levels could see Litecoin slide through the morning low to $76 levels. Barring a major crypto sell-off, however, Litecoin would likely steer clear of the first major support level at $75.84.

Ripple Visits $0.31 Levels

Ripple’s XRP fell by 0.73% on Friday. Following on from a 6.69% slide on Thursday, Ripple’s XRP ended the day at $0.32765.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.31795 before finding support.

Coming within range of the first major support level at $0.3170, Ripple’s XRP bounced back to a late morning intraday high $0.33242.

Falling well short of the first major resistance level at $0.3483, Ripple’s XRP eased back to $0.32 levels late in the day.

At the time of writing, Ripple’s XRP was down just 0.01% to $0.32762. A mixed start to the day saw Ripple’s XRP fall to a morning low $0.32564 before finding support. Steering clear of the first major support level at $0.3196, Ripple’s XRP moved to a morning high $0.328. Ripple’s XRP fell short of the first major resistance level at $0.3341.

For the day ahead, a hold above $0.3260 levels would support upward momentum in the 2nd half of the day. A move through $0.3280 levels would bring $0.33 levels back into play. Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the first major resistance level at $0.3341.

Failure to hold above $0.3260 levels could see Ripple’s XRP fall through the morning low $0.32564 to test the first major support level at $0.3196. Barring a broad-based crypto sell-off, Ripple’s XRP will likely steer well clear of the second major support level at $0.3115.

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Thanks, Bob

This article was originally posted on FX Empire

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