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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/06/19

Bob Mason

Bitcoin Cash – ABC – in the Red

Bitcoin Cash ABC gained 2.69% on Friday. Following on from a 5.08% rally on Thursday, Bitcoin Cash ABC ended the day at $422.00.

A relatively choppy day saw Bitcoin Cash ABC recover from a morning low $404.19 to hit $416 levels before hitting reverse.

Pulling back from the early afternoon high, Bitcoin Cash ABC slid to a late afternoon intraday low $402.00.

Steering clear of the first major support level at $397.05, Bitcoin Cash ABC rallied to a late intraday high $422.00. In spite of the late rally, Bitcoin Cash ABC came up short of the first major resistance level at $426.51.

At the time of writing, Bitcoin Cash ABC was down by 0.48% to $419.96. A mixed start to the day saw Bitcoin Cash ABC rise from a morning low $416.37 to a high $424 before easing back.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, a hold above $415 levels through the morning would support upward momentum later in the day.

A recovery to $420 levels would signal a run at the first major $428.67. Bitcoin Cash ABC would need support from the broader market, however, to break out from this morning’s high $424.

Failure to hold above $415 levels could see Bitcoin Cash ABC test the first major support level at $408.67.

Barring an extended crypto market sell-off, Bitcoin Cash ABC would likely steer clear of sub-$400 levels on the day.

Litecoin Plays Catch-up

Litecoin rose by 1.36% on Friday. Partially reversing a 3.9% slide from Thursday, Litecoin ended the day at $132.56.

Tracking the broader market, Litecoin recovered from a mid-morning low $128.43 to an early afternoon intraday high $136.96 before hitting reverse.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $135.89.

The reversal saw Litecoin slide through the first major support level at $126.94 to a late afternoon intraday low $125.6.

Finding support from the broader market, Litecoin recovered to $130 levels late in the day.

At the time of writing, Litecoin was up by 1.8% to $134.94. A particularly bullish start to the day saw Litecoin rally from a morning low $132.57 to a high $137.31.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $135.89 before easing back.

For the day ahead, a hold onto $130 levels would support another break through the first major resistance level. Litecoin would need support from the broader market, however, to break out from $135 levels.

Barring a broad-based crypto rally, Litecoin would likely come up short of the second major resistance level at $138.09.

Failure to hold onto $130 levels could see Litecoin tests the first major support level at $127.7 before any recovery.

Barring a crypto meltdown, Litecoin would likely steer clear of sub-$126 levels on the day.

Ripple’s XRP on the Move

Ripple’s XRP rose by 1.03% on Friday. Reversing a 0.90% fall from Thursday, Ripple’s XRP ended the day at $0.0.40363.

A particularly choppy day saw Ripple’s XRP rise from an early morning low $0.39307 to a morning high $0.40034.

Steering clear of the major support and resistance levels, Ripple’s XRP slid to a mid-day intraday low $0.39162 before finding support.

A return to $0.392 levels by late afternoon was short-lived, with Ripple’s XRP finding support from the broader market to strike a late intraday high $0.40487.

In spite of the rally, Ripple’s XRP left the first major resistance level at $0.4080 untested.

At the time of writing, Ripple’s XRP was up by 0.95% to $0.40748. A bullish start to the day saw Ripple’s XRP rally from a morning low $0.40180 to a high $0.41133 before easing back.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.4085. Coming within range of the second major resistance level at $0.4133, Ripple’s XRP eased back to sub-$0.41 levels.

For the day ahead, a move back through to $0.41 levels would support another run at the second major resistance level at $0.4133.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.41133.

Barring a broad-based crypto rally, Ripple’s XRP would likely struggle to return to $0.41 levels later in the day.

Failure to move back through to $0.41 levels could see Ripple’s XRP hit reverse. A fall through the morning low $0.40180 would bring the first major support level at $0.3952 into play.

Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of sub-$0.39 support 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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