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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/04/19

Bob Mason

Bitcoin Cash – ABC – Slides Again

Bitcoin Cash ABC slid by 3.14% on Friday. Following on from a 6.72% tumble on Thursday, Bitcoin Cash ABC ended the day at $255.02.

A relatively bullish start to the day saw Bitcoin Cash ABC rise to an intraday high $269.27 before hitting reverse.

Falling short of the first major resistance level at $279.15, Bitcoin Cash ABC fell to a late afternoon intraday low $251.34.

In spite of the reversal, Bitcoin Cash ABC steered clear of the first major support level at $249.92 to recover to $255 levels.

At the time of writing, Bitcoin Cash ABC was up by 2.28% to $260.85. Bucking the trend from the broader market, Bitcoin Cash ABC rose from $255.02 to a morning high $261.

In spite of the early move, Bitcoin Cash ABC left the major support and resistance levels untested.

For the day ahead, a move through to $262 levels would support a run at the first major resistance level at $265.75.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $270 levels and the second major resistance level at $276.47. Friday’s high $269.27 would likely pin Bitcoin Cash ABC back on the day.

In the event of a breakout, Bitcoin Cash ABC would likely fall short of $280 levels on the day.

Failure to move through to $262 levels could see Bitcoin Cash ABC hit reverse later in the day. A fall a pullback through $258.54 would bring $251 levels into play before any recovery.

Barring a crypto sell-off, Bitcoin Cash ABC would likely steer clear of sub-$250 levels and the first major support level at $247.82.

Litecoin on the Back Foot

Litecoin rose by 1.49% on Friday. Partially reversing a 3.39% slide from Thursday, Litecoin ended the day at $71.64.

A choppy start to the day saw Litecoin slide to an intraday low $68.88 before striking an intraday high $73.5.

The moves through the early hours saw Litecoin leave the major support and resistance levels untested.

Easing back from the early intraday high, Litecoin fell to an afternoon low $69.5 before finding support late in the day.

At the time of writing, Litecoin was down by 0.61% to $71.20. A bearish start to the day saw Litecoin fall from a morning high $71.83 to a low $71.13 before steadying.

Litecoin left the major support and resistance levels untested in the early hours.

For the day ahead, a move through to $71.40 levels would bring $72 levels back into play before any pullback. Support from the broader market would be needed, however, for Litecoin to take a run at $73 levels and the first major resistance level at $73.80.

Failure to move through to $71.40 levels could see Litecoin slide further into the red before any recovery.

A fall through to $70 levels would bring the first major support level at $69.18 into play. Barring a crypto meltdown, Litecoin would likely avoid a return to sub-$69 levels on the day.

Ripple Bounces Back

Ripple’s XRP rallied by 6.34% on Friday. Reversing a 3.93% slide from Thursday, Ripple’s XRP ended the day at $0.3092.

Bullish through the day, Ripple’s XRP rallied from a start of a day intraday low $0.28799 to a late intraday high $0.31149.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3060. In spite of the day-long rally, Ripple’s XRP came up short of $0.32 levels and the second major resistance level at $0.3209. More modest gains elsewhere likely capped the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.38% to $0.30802. A relatively range-bound start to the day saw Ripple’s XRP fall from a morning high $0.31097 to a low $0.30757.

The early moves saw Ripple’s XRP leave the major support and resistance levels untested.

For the day ahead, a move through to $0.31 levels would support a run at the first major resistance level at $0.3178. Following Friday’s breakout, support from the broader market would be needed for return to $0.32 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of the second major resistance level at $0.3264.

Failure to move through to $0.31 levels could see Ripple’s XRP take another hit on the day. A fall through $0.3030 levels would bring the first major support level at $0.2943 into play.

Barring a crypto meltdown, Ripple’s XRP would likely avoid a return to $0.28 levels on the day.

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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