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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/03/19

Bitcoin Cash – ABC – Sees a 3rd Day of Red

Bitcoin Cash ABC slipped by 0.47% on Thursday. Following on from a 1.37% fall from Wednesday. Bitcoin Cash ABC ended the day at $129.76.

Following a relatively range-bound morning, Bitcoin Cash ABC slid to an early afternoon intraday low $128.4 before finding support.

Holding well above the first major support level at $125.47, Bitcoin Cash ABC struck an intraday high $132.72 before sliding back to sub-$130 levels. The day high fell well short of the first major resistance level at $133.85.

At the time of writing, Bitcoin Cash ABC was by 0.43% to $130.32. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $131.58 before sliding back. The day’s major support and resistance levels were left untested early on.

For the day ahead, a move back through to $131 levels would give Bitcoin Cash ABC another run at the first major resistance level at $132.19. Through the morning, Bitcoin Cash ABC would need to hold onto $130.30 levels to support a move later in the day. Barring a broad-based crypto rally, Bitcoin Cash ABC will likely fall short of $134 levels on the day.

Failure to hold onto $130.30 levels could see Bitcoin Cash ABC give up the morning gains. A fall back through to sub-$130 levels would bring the first major support level at $127.87 into play before any recovery. We would expect Bitcoin Cash ABC to avoid heavier losses on the day, barring a cryptomarket meltdown.

Litecoin Leads the Pack

Litecoin rose by 1.11% on Thursday. Following on from a 0.72% gain from Wednesday, Litecoin ended the day at $45.44.

A bullish start to the day saw Litecoin rise to a morning high $45.96 before falling to $44 levels in the first half of the day.

Tracking the broader market through the afternoon, Litecoin recovered from an intraday low $44.38 to strike an intraday high $46.65 before easing back.

While steering clear of the day’s major support levels, Litecoin broke through the first major resistance level at $46.05 before pulling back to $45 levels.

At the time of writing, Litecoin was up by 0.59% to $45.71. A relatively positive start to the day saw Litecoin rise to a morning high $45.85 before easing back. The minor gain came with Litecoin moving within tight ranges early on. A morning low $45.26 and the morning high left the major support and resistance levels untested.

For the day ahead, a hold above $45.5 through the morning would support another run at the first major resistance level at $46.6. Barring a broad-based crypto rally, we would expect Litecoin to fall short of $47 levels. The current week’s high $46.89 will likely pin Litecoin back from a run at the second major resistance level at $47.76.

Failure to hold above $45.5 could see Litecoin slide into the red. A fall through the morning low $45.26 would bring the first major support level at $44.33 into play. Barring a crypto sell-off, we would expect sub-$44 support levels to be left untested on the day.

Ripple Finds Support

Ripple’s XRP gained 1.03% on Thursday. Partially reversing a 1.88% fall on Wednesday, Ripple’s XRP ended the day at $0.32080.

A relatively choppy day saw Ripple’s XRP slide to an early afternoon intraday low $0.31412 before finding support.

Steering clear of sub-$0.31 levels and the first major support level at $0.3064, Ripple’s XRP rallied to an intraday high $0.32532. Ripple’s XRP came up short of the first major resistance level at $0.3281 on the day.

Whilst easing back late in the day, Ripple’s XRP was able to hold onto $0.32 levels by the day’s end to close out the day in the green.

At the time of writing, Ripple’s XRP was up by 0.15% to $0.32127. Ripple’s XRP recovered from a morning low $0.3187 to strike a morning high $0.32204 before easing back. The early moves left the day’s major support and resistance levels untested.

For the day ahead, a hold onto $0.32 levels through the morning would support another run at the first major resistance level at $0.3260. Support from the broader market would be needed for Ripple’s XRP to take a run at $0.33 levels. We would expect Ripple’s XRP to fall short of $0.34 levels on the day. The second major resistance level at $0.3313 will likely pin Ripple’s XRP back in the event of a breakout.

Failure to hold onto $0.32 levels would see Ripple’s XRP slide through the morning low $0.3187. The first major support level at $0.3148 would likely limit the losses on the day. Barring a broad-based sell-off, we would expect Ripple’s XRP to steer clear of sub-$0.31 support levels.

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This article was originally posted on FX Empire

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