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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/07/19

Bob Mason

Bitcoin Cash – ABC – Eyeing $330

Bitcoin Cash ABC fell by 1.65% on Sunday. Partially reversing a 5.57% gain from Saturday, Bitcoin Cash ABC ended the week up 13.84% at $321.59.

A start of a day intraday high $331 came up short of the first major resistance level at $343.15 before falling to a morning low $320.95.

Bitcoin Cash ABC managed to recover to $326 levels before sliding to an early afternoon intraday low $310.19.

In spite of the sell-off, Bitcoin Cash ABC steered clear of the first major support level at $307.36 before recovering to $320 levels.

At the time of writing, Bitcoin Cash ABC was up 0.15% to $322.07. A mixed start to the day saw Bitcoin Cash ABC rise from a morning low $320.49 to a high $324 before easing back.

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

For the day ahead, a hold above $321 levels through the morning would support a run at $330 levels.

Barring a broad-based crypto rally, Sunday’s high $331 and first major resistance level at $331.66 would limit any upside.

In the event of a broad-based crypto rally, $340 levels and the second major resistance level at $341.74 could come into play.

Failure to hold above $321 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $313 levels would bring the first major support level at $310.85 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$310 support levels on the day.

Litecoin Sees Red

Litecoin fell by 0.7% on Sunday. Partially reversing a 1.86% rise from Saturday, Litecoin ended the week up 11.19% at $99.76.

A bullish first hour saw Litecoin strike an intraday high $101 before hitting reverse. Falling well short of the first major resistance level at $105.17, Litecoin fell to an early afternoon intraday low $96.48.

Litecoin fell through the 38.2% FIB of $99 and the first major support level at $96.66 before finding support.

Key on the day was a recovery through the 38.2% FIB.

At the time of writing, Litecoin was down by 0.22% to $99.54. A mixed start to the day saw Litecoin strike a morning high $100.88 before falling to a morning low $98.8.

While leaving the major support and resistance levels untested, Litecoin tested support at the 38.2% FIB of $99 early on.

For the day ahead, a hold onto $99 levels would support another run at the first major resistance level at $101.68.

Litecoin would need the support of the broader market, however, to break out from the 38.2% FIB.

Barring a broad-based crypto rally, Sunday’s high $101 and the first major resistance level at $101.68 should cap any upside.

Failure to hold onto $99 levels could see Litecoin test the first major support level at $97.16 before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of sub-$96 support levels on the day.

Ripple’s XRP Struggles at $0.33 Levels

Ripple’s XRP fell by 0.68% on Sunday. Partially reversing a 4.19% gain from Saturday, Ripple’s XRP ended the week up 8.77% at $0.33044.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.33501. Falling short of the first major resistance level at $0.3431, Ripple’s XRP slid to a late intraday low $0.3197.

Ripple’s XRP found support at the first major support level at $0.3203 to recover to $0.33 levels at the day end.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.32928. Tracking the broader market, Ripple’s XRP rose to a morning high $0.33214 before falling to a low $0.32719.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a hold above $0.3280 levels would support another run at the first major resistance level at $0.3371.

Ripple’s XRP would need support from the broader market, however, to break through to $0.33 levels.

Barring a broad-based crypto rally, Sunday’s high $0.33501 would likely cap any upside on the day.

Failure to hold above $0.3280 levels would bring the first major support level at $0.3218 into play before any recovery.

Barring a broad-based crypto sell-off, Ripple’s XRP should steer well clear of the second major support level at $0.3218.

In the event of a sell-0ff, Ripple’s XRP could visit $0.30 levels before any recovery.

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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