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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/11/19

Bob Mason

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC rallied by 3.73% on Saturday. Reversing a 1.39% fall from Friday, Bitcoin Cash ABC ended the day at $289.17.

Bullish through much of the day, Bitcoin Cash ABC rallied from an early intraday low $277.81 to a late intraday high $295.03.

Bitcoin Cash ABC broke through the first major resistance level at $283.41 and second major resistance level at $289.21.

Coming up short of $300 levels, Bitcoin Cash ABC slid back through the second major resistance level to $287 levels.

While finding support late in the day, the second major resistance level capped the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 3.21% to $298.44. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $291.16 to a high $304.03.

Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $296.86. Coming up against the second major resistance level at $304.56, Bitcoin Cash ABC fell back to sub-$300 levels.

For the day ahead, Bitcoin Cash ABC would need to hold above the first major resistance level at $296.86 to support another run at $300 levels.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from the second major resistance level at $304.56.

Barring an extended rally through the day, the second major resistance level at $304.56 would likely cap any upside.

Failure to hold above the first major resistance level could see Bitcoin Cash ABC give up the morning gains.

A fall through to sub-$288 levels would bring the first major support level at $279.64 into play.

Barring a broad-based crypto reversal, however, we would expect Bitcoin Cash ABC to steer clear of sub-$290 levels.

Litecoin Struggles for Direction

Litecoin rose by just 0.05% on Saturday. Following a 0.09% fall from Friday, Litecoin ended the day at $58.38.

Bearish through the morning, Litecoin fell to a late morning intraday low $57.86 before finding support.

Steering clear of the first major support level at $57.00, Litecoin rallied to a late afternoon intraday high $59.32.

Coming up against the first major resistance level at $59.34, Litecoin fell back to sub-$58 levels before finding late support.

A late move back through to $58 levels left Litecoin flat on the day.

At the time of writing, Litecoin was up by 0.02% to $58.39. A mixed start to the day saw Litecoin rise from an early morning low $58.13 to a high $58.80 before easing back.

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

For the day ahead, a move back through to $58.50 levels would support a run at the first major resistance level at $59.18.

Litecoin would need the support of the broader market, however, to break out from this morning’s high $58.80.

Barring a broad-based crypto rally, the first major resistance level at $59.18 and Saturday’s high $59.32 would likely limit any upside.

Failure to move back through to $58.50 levels would bring the first major support level at $57.72 into play.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $57.06.

Ripple’s XRP Falls Short of $0.30

Ripple’s XRP rose by 0.92% on Saturday. Reversing a 0.82% fall from Friday, Ripple’s XRP ended the day at $0.29599.

A mixed start to the day saw Ripple’s XRP fall from an early morning intraday low $0.29329 to a high 0.29613.

Steering clear of the major support and resistance levels early on, Ripple’s XRP eased back to sub-$0.2940 levels before finding support.

An early afternoon rally saw Ripple’s XRP strike a late afternoon intraday high $0.29947 before easing back.

Ripple’s XRP broke through the first major resistance level at $0.2972 before sliding back to sub-$0.2960 levels at the day end.

At the time of writing, Ripple’s XRP was down by 0.33% to $0.29500. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29738 before sliding to a low $0.29500.

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

For the day ahead, a move through to $0.2960 levels would support a run at the first major resistance level at $02992.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.29738.

Barring a broad-based crypto rally, Ripple’s XRP would likely fall short of $0.30 levels for a 4th consecutive day.

Failure to move through to $0.2960 levels could see Ripple’s XRP fall deeper into the red.

Ripple’s XRP would likely test the first major support level at $0.2930 before any recovery.

In the event of an extended sell-off through the day, the second major support level at $0.2901 would likely limit any downside.

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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