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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/03/19

Bob Mason

Bitcoin Cash – ABC – Slides Back

Bitcoin Cash ABC fell by 0.78% on Sunday. Partially reversing a 6.31% rally from Saturday, Bitcoin Cash ABC ended the week up 7.19% to $163.9.

Choppy through the day, Bitcoin Cash ABC slid from a start of a day intraday high $165.19 to an intraday low $160.53.

In spite of the moves through the day, Bitcoin Cash ABC left the major support and resistance levels untested.

At the time of writing, Bitcoin Cash ABC was down by 0.22% to $163.54. Moves through the early morning saw Bitcoin Cash ABC fall from a morning high $163.90 to low $162.88. The day’s major support and resistance levels were left untested early on.

For the day ahead, a hold onto $163 levels through the morning would support a recovery later in the day. A break through the morning high $163.90 to $164 levels would bring $165 levels back into play.

Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to come up short of $166 levels, however. The first major resistance level at $165.88 would likely pin Bitcoin Cash ABC back on the day.

Failure to hold onto $163 levels could see Bitcoin Cash ABC fall deeper into the red. A pullback through the morning low $162.88 could bring $161 levels into play before any recovery. Barring a crypto sell-off, however, we would expect Bitcoin Cash ABC to steer clear of sub-$161 levels. The first major support level at $161.22 will likely limit the downside on the day.

Litecoin Sees Red

Litecoin fell by 1.62% on Sunday. Reversing much of a 2.20% gain from Saturday, Litecoin ended the week down 1.39% to $59.46.

Bearish through the day, Litecoin slid from a start of a day intraday high $60.44 to a mid-morning intraday low $58.75.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $59.25 before steadying.

Of greater significance was a fall back through the 23.6% FIB of $60. Litecoin unable to break back through the $60 level through the afternoon.

At the time of writing, Litecoin was down by 0.02% to $59.45. A relatively choppy start to the day saw Litecoin rally to a morning high $60.25 before hitting reverse. While falling short of the first major resistance level at $60.35, the 23.6% FIB of $60 pinned Litecoin back early on. An early morning low $59.1 saw Litecoin hold well above the first major support level at $58.66.

For the day ahead, a move through to $59.60 levels would support another breakthrough the 23.6% FIB of $60. Support from the broader market would be needed, however, for Litecoin to break through the first major resistance level at $60.35. Barring a crypto rally, Sunday’s high $60.44 would likely pin Litecoin back from $61 levels on the day.

Failure to move through to $59.60 levels could see Litecoin slide back later in the day. A fall through the morning low $59.1 would bring $58 levels into play before any recovery. Barring a crypto sell-off, we would expect Litecoin to steer clear of the first major support level at $58.66.

Ripple Relies on Support

Ripple’s XRP fell by 1.3% on Sunday. Reversing a 0.42% gain from Saturday, Ripple’s XRP ended the week down 3.36% to $0.31174.

Tracking the broader market, Ripple’s XRP fell from a start of a day intraday high $0.31596 to an intraday low $0.30740.

Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.3138 and second major support level at $0.3115. The third major support level at $0.3074 prevented heavier losses on the day and support recovery to $0.31 levels.

At the time of writing, Ripple’s XRP was down by 0.34% to $0.31067. A mixed start to the day saw Ripple’s XRP rise to a morning high $0.31236 before easing back. Falling short of the first major resistance level at $0.3160, Ripple’s XRP fell to a morning low $0.31063.

For the day ahead, a move back through to $0.3120 levels would support a run at $0.3150 levels later in the day. Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the first major resistance level at $0.3160. Barring a broad-based crypto rally, we would expect Ripple’s XRP to continue to fall short of $0.32 levels.

Failure to move through to $0.3120 levels could see Ripple’s XRP take a tumble later in the day. A fall through the morning low $0.31063 would bring the first major support level at $0.3074 into play.

Barring a crypto meltdown, however, we would expect Ripple’s XRP to steer clear of the second major support level at $0.3031.

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This article was originally posted on FX Empire

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