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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/06/19

Bob Mason

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC surged by 9.93% on Saturday. Following on from a 5.13% rally on Friday, Bitcoin Cash ABC ended the day at $480.

A choppy start to the day saw Bitcoin Cash ABC rise from a morning low $436.65 to an early afternoon high $465.0.

Bitcoin Cash ABC broke through the first major resistance level at $448.64 and second major resistance level at $460.68.

An early afternoon slide to an intraday low $431.61 saw Bitcoin Cash ABC steer clear of the first major support level at $431.61 before rallying to an intraday high and new swing hi $515.70.

The rally saw Bitcoin Cash ABC break through the major resistance levels before easing back through the third major resistance level at $489.40.

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At the time of writing, Bitcoin Cash ABC was up by 0.99% to $484.74. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $475.05 to a morning high $498.0 before easing back.

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

For the day ahead, a move back through the morning high $498 would support a run at the first major resistance level at $519.93. A broad-based crypto rally would bring $520 levels into play.

Bitcoin Cash ABC would need support from the broader market, however, to break out from $500 levels.

Failure to move back through the morning high could see Bitcoin Cash ABC hit reverse. A fall through the morning low to $468 levels would bring $450 levels into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of the first major support level at $443.02.

Litecoin Sees Red

Litecoin gained 1.6% on Saturday. Following on from a 2.36% rise from Friday, Litecoin ended the day at $141.46.

A relatively choppy day saw Litecoin rise to an early morning high $143.55 before sliding back to sub-$140 levels.

The early moves saw Litecoin break through the first major resistance level at $141.93. An early afternoon rally saw Litecoin strike an intraday high and new swing hi $146.0 before sliding to an intraday low $137.35.

Litecoin broke through the first major resistance level at $141.93 and second major resistance level at $144.82, while steering clear of the major support levels.

At the time of writing, Litecoin was down by 0.13% to $141.27. Litecoin rose to a morning high $142.2 before falling back to a low $140.27.

The relatively range-bound start to the day saw Litecoin steer clear of the major support and resistance levels.

For the day ahead, a hold onto $141 levels would support another run at the first major resistance level at $145.79.

Litecoin would need support from the broader market to take a run at the second major resistance level at $150.11.

Failure to hold onto $141 levels could see Litecoin fall through to $138 levels before any recovery.

Barring a broad-based crypto sell-off, Litecoin would likely leave the first major resistance level at $137.35 untested.

Ripple’s XRP Hits $0.51 Levels

Ripple’s XRP rallied by 7.15% on Saturday. Following on from a 3.28% rise on Friday, Ripple’s XRP ended the day at $0.4780.

A bullish morning saw Ripple’s XRP rally from an intraday low $0.44322 to an early afternoon intraday high $0.51.

Ripple’s XRP broke through the major resistance levels before easing back to $0.46 levels. Finding support late in the day, Ripple’s XRP managed to hold above the second major resistance level at $0.4628

At the time of writing, Ripple’s XRP was up by 0.67% to $0.48120. A relatively range-bound start to the day saw Ripple’s XRP rise to a morning high $0.49328 before easing to a low $048259.

Ripple’s XRP left the support and resistance levels untested early on.

For the day ahead, a move back through to $0.49 levels would support a run at the first major resistance level at $0.5109.

Ripple’s XRP would need support from the broader market, however, to break through to $0.50 levels.

Barring a broad-based crypto rally, Saturday’s high $0.5100 and the first major resistance level at $0.5109 would likely limit any upside on the day.

Failure to move back through to $0.49 levels could see Ripple’s XRP slide through to $0.45 levels before any recovery.

Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of the first major support level at $0.4441.

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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