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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/04/19

Bob Mason

Bitcoin Cash – ABC – In Recovery

Bitcoin Cash ABC gained 3.36% on Sunday. Reversing a 1.55% fall from Saturday, Bitcoin Cash ABC ended the week down 9.7% at $289.68.

A bearish start to the day saw Bitcoin Cash ABC fall to a mid-morning intraday low $272.09 before finding support. Holding above the major support levels, Bitcoin Cash ABC recovered to $280 levels before a late surge.

The late surge saw Bitcoin Cash ABC break through the first major resistance level at $286.49 to an intraday high $290.90. In spite of the late rebound, Bitcoin Cash ABC was unable to break back through the 23.6% FIB of $291.

At the time of writing, Bitcoin Cash ABC was up by 5.19% to $304.72. In the early hours, Bitcoin Cash ABC rallied from a morning low $289 to a morning high $310 before easing back.

Steering clear of the major support levels, Bitcoin Cash ABC broke through the 23.6% FIB of 291, first major resistance level at $296.37 and second major resistance level at $303.03.

For the day ahead, a hold onto $300 levels through the morning would support further upside later in the day. Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the third major resistance level at $321.84.

Failure to hold onto $300 levels could see Bitcoin Cash ABC hit reverse later in the day. A pullback through to $284 levels would bring the first major support level at $277.55 into play. Barring a crypto meltdown, however, Bitcoin Cash ABC will likely steer clear of sub-$290.

Litecoin Back in the S80s

Litecoin rallied by 7.6% on Sunday. Reversing a 1.28% decline from Saturday, Litecoin ended the week down 8.9% at $83.77.

Tracking the broader market, Litecoin fell to a mid-morning intraday low $76.5 before finding support. Steering clear of the first major support level at $75.62, Litecoin recovered to a morning high $79.5.

Off the back of a late crypto rally, Litecoin struck an intraday high $83.94 before easing back. Litecoin broke through the first major resistance level at $80.90 to come up against the 38.2% FIB of $83 and second major resistance level at $83.91.

At the time of writing, Litecoin was down by 0.17% to $83.63. A choppy start to the day saw Litecoin slip to a morning low $82.88 before finding support. Steering clear of the major support levels, Litecoin struck a morning high $84.73 before easing back. The day’s major resistance levels were also left untested early on.

For the day ahead, a move back through to $84 levels would support a run at $85 levels before any pullback. Support from the broader market would be needed for Litecoin to take a run at the first major resistance level at $86.31.

Barring a crypto rally, Litecoin would likely struggle to break out from the 38.2% FIB of $83.

Failure to move back through to $84 levels could see Litecoin slide deeper into the red. A pullback through the morning low $82.88 would bring $81 levels into play before any recovery. Barring a broad-based sell-off, Litecoin will likely steer well clear of the first major support level at $78.87.

Ripple Trails the Pack

Ripple’s XRP rose by 0.91% on Sunday. Following on from a 0.29% rise on Saturday, Ripple’s XRP ended the week down 9.7% at $0.3316.

Bucking the trend, Ripple’s XRP rallied to an early morning intraday high $0.33414 before easing back. Falling short of the major resistance levels, Ripple’s XRP fell to a mid-morning intraday low $0.32451.

The pullback saw Ripple’s XRP steer clear of the major support levels to recover the morning losses. Following a range-bound afternoon, a late rally saw Ripple’s XRP move back through to $0.33 levels.

At the time of writing, Ripple’s XRP was up by 0.16% to $0.33212. A bullish start to the day saw Ripple’s XRP rise from a morning low $0.33085 to a high $0.33534. Steering clear of the major support levels, Ripple’s XRP came within range of the first major resistance level at $0.3357 before easing back.

For the day ahead, a hold onto $0.33 levels through the morning would support another run at the first major resistance level at $0.3357. Barring a broad-based crypto rally, Ripple’s XRP would likely continue to fall short of $0.34 levels. The second major resistance level at $0.3397 would limit the upside on the day.

Failure to hold onto $0.33 levels could see Ripple’s XRP pullback to $0.32 levels before any recovery. Barring a crypto meltdown, the first major support level at $0.3260 will likely limit the downside on the day.

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Thanks, Bob

This article was originally posted on FX Empire

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