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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/07/19

Bob Mason

Bitcoin Cash – ABC – Back in Reverse

Bitcoin Cash ABC gained 1.49% on Friday. Partially reversing a 10.47% tumble from Thursday, Bitcoin Cash ABC ended the day at $353.0.

A mixed start to the day saw Bitcoin Cash ABC rise to an early intraday high $360 before pulling back. While Falling short of the first major support level at $383.61, Bitcoin Cash ABC broke through the 38.2% FIB of $359 before the pullback.

Bitcoin Cash ABC fell to an early morning intraday low $339.17 before finding support. Steering clear of the first major support level at $312.23, Bitcoin Cash ABC recovered to an afternoon high $357.88.

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A bearish end to the day limited the upside on the day.

At the time of writing, Bitcoin Cash ABC was down 2.27% to $345. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $353 to a low $345.

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

For the day ahead, Bitcoin Cash ABC would need to move through to $351 levels to signal an afternoon rebound.

Bitcoin Cash ABC would need the support of the broader market, however, to break through the 38.2% FIB of $359.

In the event of a broad-based crypto rebound, the first major resistance level at $362.28 would come into play.

Failure to move through to $351 levels would see Bitcoin Cash ABC struggle on the day. A pullback to $343 levels would bring the first major support level at $341.45 into play before any recovery.

In the event of an extended crypto sell-off, the second major support level at $329.89 could come into play.

Litecoin Tracks the Pack

Litecoin rose by 2.08% on Friday. Partially reversing a 4.96% fall from Thursday, Litecoin ended the day at $105.16.

A choppy morning saw Litecoin fall from $105 levels to an early morning intraday low $100.59. Steering well clear of the first major support level at $96.02, Litecoin rallied to a mid-morning intraday high $107.0.

Litecoin came up short of the first major resistance level at $109.08 before easing back to $103 levels.

Support late in the day led to recovery to $105 levels.

At the time of writing, Litecoin was down by 2.18% to $102.87. A bearish start to the day saw Litecoin fall from a morning high $105.51 to a low $101.8 before finding support.

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

For the day ahead, a move back through to $104 levels would support a rebound later in the day.

A move back through the morning high $105.51 to $106 levels would bring the first major resistance level at $107.91 into play.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $107 would likely limit any upside.

Failure to move back through to $104 levels could see Litecoin fall deeper into the red. A fall back through to sub-$102 levels would bring the first major support level at $101.5 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$100 support levels on the day.

Ripple’s XRP is Struggling

Ripple’s XRP rose by 4.45% on Friday. Partially reversing an 8.94% slide from Thursday, Ripple’s XRP ended the day at $0.34339.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.3200 before finding support.

Steering clear of the first major support level at $0.3089, Ripple’s XRP rallied to a late morning intraday high $0.35017 before easing back.

Coming up short of the first major resistance level at $0.3557, Ripple’s XRP eased back to $0.33 levels before finding support.

At the time of writing, Ripple’s XRP was down by 0.93% to $0.34018. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.34413 to a low $0.3360 before finding support.

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

For the day ahead, a hold onto $0.34 levels would support a move back into positive territory later in the day.

Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.3557.

Barring a broad-based crypto rally, Thursday’s high $0.35017 would likely limit the upside on the day.

Failure to hold onto $0.34 levels could see Ripple’s XRP slide through the morning low to $0.32 levels.

Barring a crypto meltdown, the first major support level at $0.3255 would likely limit the downside on the day.

In the event of a crypto meltdown Ripple’s XRP could see $0.31 levels before any recovery.

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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