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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/12/19

Bob Mason

Bitcoin Cash – ABC

Bitcoin Cash ABC fell by 1.46% on Tuesday. After having closed out the day flat on Monday, Bitcoin Cash ABC ended the day at $211.56.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $216.11 before hitting reverse.

Falling short of the first major resistance level at $216.78, Bitcoin Cash ABC fell to a mid-morning low $212.15.

Steering clear of the first major support level at $211.33, Bitcoin Cash ABC recovered to $214 levels before a 2nd sell-off.

The 2nd sell-off saw Bitcoin Cash ABC fall to a late intraday low $211.56. In spite of the pullback, Bitcoin Cash ABC steered clear of the first major support level at $211.33.

At the time of writing, Bitcoin Cash ABC was down by 2.75% to $205.75. A bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $210.85 to a low $202.44.

Bitcoin Cash ABC fell through the major support levels before breaking back through the third major support level at $203.98.

For the day ahead, Bitcoin Cash ABC would need to break back through the second major support level at $208.53 to support a rebound.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from the first major support level at $210.04.

In the event of a rebound, resistance at $213 levels would likely pin Bitcoin Cash ABC back on the day.

We would expect the first major resistance level at $214.59 to be left untested on the day.

Failure to move back through the second major support level could see Bitcoin Cash ABC fall deeper into the red.

A fall back through the third major support level at $203.98 would bring sub-$200 levels into play.

Litecoin

Litecoin fell by 1.65% on Tuesday. Following on from a 4.06% slide on Monday, Litecoin ended the day at $44.80.

It was a choppy day for Litecoin on Tuesday. Through the early hours, Litecoin rose to an early morning high $46.20 before sliding to a late morning intraday low $44.27.

Falling short of the first major resistance level at $47.11, Litecoin fell through the first major support level at $44.57.

Finding support through the early afternoon, Litecoin bounced back to a mid-afternoon intraday high $46.31.

The visit to $46 levels was brief, however, with Litecoin sliding back to sub-$45 levels late in the day.

Resistance at $45 left Litecoin at sub-$45 levels at the day end.

At the time of writing, Litecoin was down by 1.61% to $44.08. A bearish start to the day saw Litecoin slide from an early morning high $44.85 to a low $43.71.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $43.94 before finding support.

For the day ahead, Litecoin would need to move through to $45.10 levels to support a run at the first major resistance level at $45.98.

Litecoin would need the support of the broader market, however, to break out from the morning high $44.85.

Barring a broad-based crypto rebound, however, Litecoin would likely come up short of $45 levels on the day.

Failure to move through to $45.10 levels could see Litecoin slide deeper into the red. A fall back through the first major support level at $43.94 would bring the second major support level at $43.09 into play.

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$43 levels.

Ripple’s XRP

Ripple’s XRP slipped by 0.02% on Tuesday. Following a 2.59% slide from Monday, Ripple’s XRP ended the day at $0.22079.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.22383 before hitting reverse.

Falling short of the first major resistance level at $0.2261, Ripple’s XRP slid to a mid-morning intraday low $0.21922.

In spite of the return to sub-$0.22 levels, Ripple’s XRP steered clear of the first major support level at $0.2170.

Through the late morning, Ripple’s XRP recovered to $0.2219 levels before revisiting sub-$0.22 levels.

While steering clear of the major support levels, support at sub-$0.22 levels led to a rebound 2nd half of a day high $0.22291.

Continuing to fall short of the major resistance levels, however, left Ripple’s XRP with miner a loss from the day.

At the time of writing, Ripple’s XRP was down by 2.86% to $0.21448. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.22094 to a low $0.21251.

Ripple’s XRP fell through the first major support level at $0.2187 and the second major support level at $0.2167.

The pullback saw Ripple’s XRP come within range of the third major support level at $0.2121 before finding support.

For the day ahead, Ripple’s XRP would need to break through the second major support level to begin a recovery.

Support from the broader market would be needed, however, for a breakout from the first major resistance level at $0.2187.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.22 levels and the major resistance levels.

Failure to move through the second major support level could see Ripple’s XRP test the third major support level before any recovery.

Barring an extended sell-off, Ripple’s XRP should steer clear of sub-$0.21 levels.

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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