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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/07/19

Bob Mason

Bitcoin Cash – ABC – Holds onto $300, for now…

Bitcoin Cash ABC fell by 1.88% on Monday. Reversing a 1.72% gain from Sunday, Bitcoin Cash ABC ended the day at $304.78.

A bullish start to the day saw Bitcoin Cash ABC strike an early morning intraday high $313 before hitting reverse.

Falling short of the first major resistance level at $318.42, Bitcoin Cash ABC fell to a late morning intraday low $301.74.

Steering clear of the first major support level at $296.94, Bitcoin Cash ABC managed to hit $312 levels before sliding back into the red.

At the time of writing, Bitcoin Cash ABC was down by 0.34% to $303.76. A mixed start to the day saw Bitcoin Cash ABC fall to an early low $302.84 before hitting a high $303.76.

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

For the day ahead, a move through to $306.5 levels would support a run at the first major resistance level at $311.27.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from current levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $313 should limit any upside.

Failure to move through to $306.5 levels could see Bitcoin Cash ABC struggle on the day. A fall through Monday’s low $301.74 would bring the first major support level at $300 into play.

Barring a crypto meltdown, the second major support level at $295.25 should limit any downside on the day.

Litecoin Hits Reverse

Litecoin gained 0.14% on Monday. Following on from a 1.33% rise from Sunday, Litecoin ended the day at $90.24.

A bullish start to the day saw Litecoin strike an early intraday high $92.44 before hitting reverse. Falling short of the first major resistance level at $92.98, Litecoin fell to a late morning intraday low $87.25.

Steering well clear of the first major support level at $85.17, Litecoin recovered to a late $91.33 before easing back.

At the time of writing, Litecoin was down by 1.17% to $89.18. A bearish start to the day saw Litecoin fall from a morning high $90.81 to a low $88.43 before finding support.

Litecoin left the major support and resistance levels untested through the early hours.

For the day ahead, a move through to $90 would support a run at the first major resistance level at $92.7.

Litecoin would need the support of the broader market, however, to break out from $91 levels on the day.

Barring a broad-based crypto rally, Monday’s high $92.44 and the first major resistance level at $92.7 should limit any upside.

Failure to move through to $90 levels could see Litecoin struggle on the day. A fall back through the morning low $88.43 would bring the first major support level at $87.51 into play.

Barring a crypto meltdown, Litecoin should steer well clear of the second major support level at $84.79.

Ripple’s XRP stuck at sub-$0.31

Ripple’s XRP slipped by 0.51% on Monday. Partially reversing a 0.68% gain from Sunday, Ripple’s XRP ended the day at $0.30991.

Tracking the broader market, Ripple’s XRP struck an early intraday high $0.31434 before taking a fall.

Falling short of the first major resistance level at $0.3180, Ripple’s XRP fell to a late morning low $0.30610.

Steering clear of the first major support level at $0.3018, Ripple’s XRP recovered to $0.31 levels before sliding to a late afternoon intraday low $0.3054.

Ripple’s XRP managed to hold above the first major support level at $0.3018 and recover to $0.3099 levels to limit the downside on the day.

At the time of writing, Ripple’s XRP was down by 0.7% to $0.30774. A mixed start to the day saw Ripple’s XRP rise to a morning high $0.31067 before sliding to a low $0.30607.

Ripple’s XRP steered clear of the major support and resistance levels early on.

For the day ahead, a move back through to $0.31 levels would support a run at the first major resistance level at $0.3144.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.31067.

Barring a broad-based crypto rally, Monday’s high $0.31434 and first major resistance level should cap any upside.

Failure to move through to $0.31 levels could see Ripple’s XRP struggle through the day.

A fall back through the morning low $0.30607 would bring the first major support level at $0.3054 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.30 levels on the day. The second major support level at $0.3009 would likely limit the downside in the event of an extended sell-off.

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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