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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/06/19

Bob Mason

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC fell by 0.94% on Thursday. Reversing a 0.21% rise from Wednesday, Bitcoin Cash ABC ended the day at $412.61.

A choppy start to the day saw Bitcoin Cash ABC slide from an early intraday high $418.88 to a late morning intraday low $405.85.

Falling short of the first major resistance level at $420.34, Bitcoin Cash ABC fell through the first major support level at $410.14.

Finding support late on, Bitcoin Cash ABC recovered to $412 levels to cut the losses on the day.

At the time of writing, Bitcoin Cash ABC was up by 3.27% to $426.12. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $415.28 to a high $427.34.

Bitcoin Cash ABC broke through the first major resistance level at $419.04 and second major resistance level at $425.48 early on.

For the day ahead, a hold above the second major resistance level at $425.48 would support a break out to $430 levels.

In the event of an extended rally through the day Bitcoin Cash ABC could come against the third major resistance level at $438.51. We would expect Bitcoin Cash ABC to come up short of the current week high $440, however.

Failure to hold above the second major resistance level at $425.48 could see Bitcoin Cash ABC slide back to sub-$420 levels.

Barring a crypto meltdown, however, Bitcoin Cash ABC would likely avoid a pullback through the first major resistance level at $419.04.

In the event of a meltdown, a fall through $412 levels would bring the first major support level at $406.01 into play before any recovery.

Litecoin Eyes $140

Litecoin fell by 0.5% on Thursday. Partially reversing a 1.27% gain from Wednesday, Litecoin ended the day at $135.99.

Bearish through most of the day, Litecoin fell from a start of a day intraday high $137.15 to a late afternoon intraday low $133.37.

Coming up short of the first major resistance level at $139.79, Litecoin tested the first major support level at $133.70.

Finding support late in the day, Litecoin recovered to $135 levels to limit the loss on the day.

At the time of writing, Litecoin was up by 1.58% to $137.89. Tracking the broader market, Litecoin rose from a morning low $135.83 to a high $138.12 before easing back.

Litecoin broke through the first major resistance level at $137.64 early on.

For the day ahead, a hold onto $137 levels through the morning would support further upside on the day.

A move back through the morning high $138.12 would support a run at the second major resistance level at $139.28. In the event of a breakout, Litecoin could take a run at $140 levels before any pullback.

We would expect Litecoin to come up short of the third major resistance level at $143.06 on the day.

Failure to hold onto $137 levels could see Litecoin slide back through to $135 levels. A fall through $135.5 would bring the first major support level at $133.86 into play before any recovery.

Barring a crypto meltdown, Litecoin will likely steer clear of the second major support level at $131.72.

Ripple’s XRP Hits $0.44

Ripple’s XRP slipped by 0.8% on Thursday. Partially reversing a 2.09% rise from Wednesday, Ripple’s XRP ended the day at $0.43280.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.43784 before hitting reverse.

Falling short of the first major resistance level at $0.4425, Ripple’s XRP slid to a late intraday low $0.42117.

The reversal saw Ripple’s XRP fall through the first major support level at $0.42760 before a late move back through to $0.43 levels.

At the time of writing, Ripple’s XRP was up by 2.56% to $0.44250. A particularly bullish start to the day saw Ripple’s XRP rally from a morning low $0.43133 to a high $0.44609.

Ripple’s XRP broke through the first major resistance level at $0.4400 to come within range of the second major resistance level at $0.4473.

For the day ahead, a hold above $0.4380 levels through the morning would support a run at the second major resistance level at $0.4473.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.44609.

In the event of an extended crypto rally, Ripple’s XRP could strike $0.45 levels before any pullback.

Failure to hold above $0.4380 levels could see Ripple’s XRP hit reverse. A fall through to sub-$0.4310 levels would bring the first major support level at $0.4234 into play.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.42 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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