Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/11/19

Bitcoin Cash – ABC – Back in the Red

Bitcoin Cash ABC rallied by 4.19% on Wednesday. Following on from a 0.88% gain on Tuesday, Bitcoin Cash ABC ended the day at $305.29.

A mixed start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $290.68 before making a move.

Steering clear of the first major support level at $286.62, Bitcoin Cash ABC rallied to a mid-morning high $307.86.

Bitcoin Cash ABC broke through the first major resistance level at $298.69 and second major resistance level at $304.6

A pullback through late morning saw Bitcoin Cash ABC fall back to sub-$298 levels before finding support.

Through the 2^nd half of the day, Bitcoin Cash ABC broke back through the first and second major resistance levels to wrap up the day at $305 levels.

It was the first closeout at $300 levels since late September.

At the time of writing, Bitcoin Cash ABC was down by 0.08% to $305.04. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $306.06 before falling to a low $304.29.

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

For the day ahead, a move back through to $306 levels would support a run at the first major resistance level at $311.87.

Bitcoin Cash ABC would need the support of the broader market to break out from Wednesday’s high $307.86.

Barring a broad-based crypto rally, however, resistance at $310 would likely limit any upside.

Failure to move back through to $306 levels could see Bitcoin Cash ABC fall deeper into the red.

A fall through to $301.2 levels would bring the first major support level at $294.69 into play.

Barring an extended sell-off through the day, Bitcoin Cash ABC should steer clear of sub-$290 support levels.

Litecoin Struggles to hold at $64

Litecoin rose by 1.55% on Wednesday. Following on from a 2.85% rise on Tuesday, Litecoin ended the day at $64.16.

A bearish start to the day saw Litecoin fall to an early morning intraday low $62.59 before finding support.

Steering clear of the first major support level at $61.23, Litecoin rallied to a mid-morning high $63.94.

Falling short of the first major resistance level at $64.64, Litecoin fell back to sub-$63 levels before finding support.

In the second half of the day, Litecoin rallied to a late intraday high $64.31. In spite of the late rally, Litecoin came up short of the first major resistance level at $64.64. It was, however, Litecoin’s highest end of day price since 23^rd September.

At the time of writing, Litecoin was down by 0.19% to $64.04. A bearish start to the day saw Litecoin fall from an early morning high $64.32 to a low $63.84.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move back through the morning high $64.32 would bring the first major resistance level at $64.78 into play.

Litecoin would need the support of the broader market, however, to break out from $64.3 levels.

Barring a broad-based crypto rally, Wednesday’s high and first major resistance level would likely limit any upside.

Failure to move back through the morning high could leave Litecoin struggling through the day.

A fall through to sub-$63.70 levels would bring the first major support level at $63.06 into play.

Barring an extended sell-off, however, Litecoin should steer well clear of the second major support level at $61.97.

Ripple’s XRP back at sub-$0.31

Ripple’s XRP rose by 3.07% on Wednesday. Following on from a 0.37% gain on Tuesday, Ripple’s XRP ended the day at $0.3109.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.29778 before finding support.

Steering clear of the first major support level at $0.2963, Ripple’s XRP rose to a mid-morning high $0.30341.

Falling short of the first major resistance level at $0.3068, Ripple’s XRP fell back to sub-$0.300 levels.

A late rally delivered the upside on the day. Ripple’s XRP broke through the first major resistance level at $0.3068 and second major resistance level at $0.3120 to strike a late intraday high $0.3141.

Whilst easing back late in the day, Ripple’s XRP held onto $0.31 levels.

At the time of writing, Ripple’s XRP was down by 3.51% to $0.30000. A particularly bearish start to the day saw Ripple’s XRP fall from an early morning high $0.3150 to a low $0.29623.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.3011.

For the day ahead, a move back through the first major support level would signal the start of a rebound.

Ripple’s XRP would need to break through to $0.3080 levels, however, to move back through to $0.31 levels.

Barring a broad-based crypto rebound later in the day, Ripple’s XRP would likely fall short of the first major resistance level at $0.3174.

Failure to move back through the first major support level could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.29623 would bring the second major support level at $0.2913 into play.

Barring a meltdown, however, Ripple’s XRP should steer clear of sub-$0.29 levels.

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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