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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/07/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 2.39% on Wednesday. Partially reversing a 3.12% fall from Tuesday, Bitcoin Cash ABC ended the day at $303.22.

A bearish start to the day saw Bitcoin Cash ABC fall to an early intraday low $283. Bitcoin Cash ABC fell through the first major support level at $288.6 before making its move.

Finding support from the broader market, Bitcoin Cash ABC rallied to an early afternoon intraday high $306. Falling short of the first major resistance level at $311.4, Bitcoin Cash ABC slipped back to sub-$300 levels.

Late support led to a move back to $300 levels and into positive territory for the day.

At the time of writing, Bitcoin Cash ABC was up by 1.91% to $309. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $301 to a high $311.26.

Steering clear of the major support levels, Bitcoin Cash ABC came within range of the first major resistance level at $311.81.

For the day ahead, a hold onto $300 level would support another run at the first major resistance level at $311.81.

Bitcoin Cash ABC would need the support of the broader market, however, for a break out from $311 levels. Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $306 should limit any upside on the day.

Failure to hold onto $300 levels could see Bitcoin Cash ABC test the first major support level at $288.81.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$280 support levels on the day.

Litecoin Struggles Early

Litecoin rallied by 4.92% on Wednesday. Reversing most of a 5.36% slide from Tuesday, Litecoin ended the day at $94.45.

A particularly bearish start to the day saw Litecoin fall to an early intraday low $86.11. Litecoin fell through the first major support level at $87.13 before rallying to an early afternoon intraday high $97.36.

Litecoin broke through the first major resistance level at $94.02 before sliding back to sub-$91 levels.

Tracking the broader market, Litecoin found support late on to wrap up the day at $94 levels.

At the time of writing, Litecoin was down by 0.13% to $94.33. A mixed start to the day saw Litecoin hit an early morning high $96.85 before sliding to a morning low $92.71.

In spite of the choppy start, Litecoin left the major support and resistance levels untested early on.

For the day ahead, Litecoin would need to steer clear of sub-$93 levels to support another positive day ahead.

A move back through the morning high $96.85 to $97 levels would support a run at 38.2% FIB of $99 and the first major resistance level at $99.17.

Litecoin would need the support of the broader market, however, to break out from Wednesday’s high $97.36.

Failure to hold above $92 levels could see Litecoin slide back to sub-$90 levels before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of the first major support level at $87.92.

Ripple’s XRP Eyes $0.32 Levels

Ripple’s XRP rose by 2.41% on Wednesday. Partially reversing a 3.81% slide from Tuesday, Ripple’s XRP ended the day at $0.31575.

Tracking the broader market, Ripple’s XRP slid to an early intraday low $0.30259 before rallying to an intraday high $0.31863.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3169.

A late afternoon pullback to sub-$0.31 levels was short-lived, with Ripple’s XRP bouncing back to $0.31 levels late on.

At the time of writing, Ripple’s XRP was up by 0.73% to $0.31804. A bullish start to the day saw Ripple’s XRP rise from a morning low $0.31531 to a high $0.3240 before easing back.

The early rally saw Ripple’s XRP break through the first major resistance level at $0.3221.

For the day ahead, a hold above $0.3130 levels would support another run at $0.32 levels on the day.

Ripple’s XRP would need support from the broader market, however, to break out from the first major resistance level at $0.3221.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of the second major resistance level at $0.3284.

Failure to hold above $0.3130 levels could see Ripple’s XRP hit reverse later in the day. A fall through to sub-$0.31 levels would bring the first major support level at $0.3060 into play.

Barring a crypto meltdown, Ripple’s XRP will likely steer well clear of sub-$0.30 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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