Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/04/19
Bitcoin Cash – ABC – Struggles
Bitcoin Cash ABC fell by 1.15% on Thursday. Following on from a 3.69% slide from Wednesday, Bitcoin Cash ABC ended the day at $306.45.
A bullish start to the day saw Bitcoin Cash ABC rise to an early intraday high $313.48 before easing back. Falling short of the first major support level at $318.96, Bitcoin Cash ABC fell to an intraday low $302.93.
Coming within range of the first major support level at $302.17, Bitcoin Cash ABC recovered to $309 levels late on, before easing back in the final hour.
At the time of writing, Bitcoin Cash ABC was down by 4.74% to $291.91. A particularly bearish start to the day saw Bitcoin Cash ABC slide from a morning high $305.98. The sell-off saw Bitcoin Cash ABC fall through the first major support level at $301.76 and second major support level at $297.07.
For the day ahead, a hold above the 23.6% FIB of $291 through the morning would support a partial recovery.
Barring a broad-based crypto rebound, however, Bitcoin Cash ABC will likely fall well short of the major resistance levels. In the event of a rebound, Bitcoin Cash ABC would need to move through $307 levels to bring the first major resistance level at $312.31 into play.
Failure to hold above the 23.6% FIB could see Bitcoin Cash ABC take a bigger hit on the day. A fall through to $290 levels could see Bitcoin Cash ABC test the third major support level at $286.52.
Barring a complete crypto meltdown, Bitcoin Cash ABC will likely steer clear of sub-$280 levels.
Litecoin Recovers Makes a Move
Litecoin rallied by 3.69% on Thursday. Reversing a 2.07% fall from Wednesday, Litecoin ended the day at $82.07.
Tracking the broader market through the morning, Litecoin rose from an intraday low $79.14 to a morning high $81.85 before easing back.
A break through the first major resistance level at $81.38 led to a pullback to sub-$80 levels before a late afternoon rally.
Litecoin broke back through the first major support level at $81.38 and 38.2% FIB of $83 to an intraday high $83.90. The second major resistance level at $83.61 pinned back a move through to $84 levels.
At the time of writing, Litecoin was down by 1.4% to $80.92. Tracking the broader market, Litecoin fell from a morning high $82.13 to a low $80.75 before steadying. Whilst leaving the major support and resistance levels untested, Litecoin fell through the 38.2% FIB of $83.
For the day ahead, a move back through $81.70 would bring the 38.2% FIB of $83 back into play. Support from the broader market would be needed, however, for Litecoin to take a run at the first major resistance level at $84.27. Barring a broad-based rebound, Litecoin will likely fall short of the 38.2% FIB on the day.
Failure to move through $81.70 levels could see Litecoin fall deeper into the red. A slide through the morning low $70.75 would bring the first major support level at $79.51 into play.
Barring a crypto meltdown, Litecoin will likely avoid a fall to $77 levels on the day.
Ripple Bucks the Trend
Ripple’s XRP gained 0.42% on Thursday. Following on from a 3.14% rise on Wednesday, Ripple’s XRP ended the day at $0.33921.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3499 before pulling back.
The early rally saw Ripple’s XRP break through the first major resistance level at $0.3475 before the pullback. Ripple’s XRP fell back to a late afternoon intraday low $0.3365 before steadying. The day’s major support levels were left untested throughout the day.
At the time of writing, Ripple’s XRP was down by 2.57% to $0.3305. Bearish in the early hours, Ripple’s XRP fell from a morning high $0.3390 to a low $0.3301 before steadying. Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.3335.
For the day ahead, a move back through $0.3335 to $0.34 levels would bring the first major resistance level at $0.3474 into play. Support from the broader market would be needed, however, for Ripple’s XRP to breakout from $0.3330 levels.
Barring a broad-based crypto rebound, Ripple’s XRP will likely come up short of $0.34 levels on the day.
Failure to move through to $0.3335 could see Ripple’s XRP take another hit later in the day. A fall through to $0.32 levels would bring the second major support level at $0.3278 into play.
Barring a meltdown, Ripple’s XRP will likely steer clear of $0.31 levels and the third major support level at $0.3139.
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This article was originally posted on FX Empire
