Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/07/19

Bitcoin Cash – ABC – Sees Red

Bitcoin Cash ABC fell by 3.05% on Monday. Following on from a 1.65% fall from Sunday, Bitcoin Cash ABC ended the day at $310.94.

A choppy start to the day saw Bitcoin Cash ABC fall from an early intraday high $324 to a late morning low $313.86.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC recovered to $321 levels before a sell-off.

An afternoon sell-off saw Bitcoin Cash ABC slide through the first major support level at $310.86 to an intraday low $301.

Bitcoin Cash ABC found support through the afternoon to avoid the first visit to sub-$300 since last Thursday.

At the time of writing, Bitcoin Cash ABC was down by 0.17% to $310.4. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $314.05 before falling to a low $308.3.

In spite of the choppy start, Bitcoin Cash ABC left the major support and resistance levels untested.

For the day ahead, a move through to $312 levels would signal a run at $320 levels on the day. Bitcoin Cash ABC would need the support of the broader market, however, to break through the first major resistance level at $322.96.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $324 should limit any upside.

Failure to move through to $312 levels would bring the first major support level at $299.96 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $288.98.

Litecoin Falls Again

Litecoin slid by 4.66% on Monday. Following on from a 0.7% fall on Sunday, Litecoin ended the day at $95.12.

A mixed start to the day saw Litecoin rise to an early intraday high $100.88 before hitting reverse.

Falling short of the first major resistance level at $101.68, Litecoin fell through the first major support level at $97.16 to a late morning low $95.05.

A move back through to $97 levels was short-lived, with a broad-based crypto sell-off dragging Litecoin to an intraday low $90.91.

Litecoin fell through the second major support level at $94.56 to come within range of the third major support level at $90.04.

Support through the afternoon limited the downside on the day.

At the time of writing, Litecoin was down by 1.48% to $93.71. A bearish start to the day saw Litecoin fall from a morning high $95.12 to a low $93.38 before steadying.

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

For the day ahead, a move back through the morning high would support another run at the 38.2% FIB of $99.

Litecoin would need to move through to $95 levels by the early afternoon, however, to support a rebound.

Barring a broad-based crypto rally, Litecoin would likely come up short of the first major resistance level at $100.36.

Failure to move back through to $95 levels could see Litecoin take another hit. A fall through the morning low $93.38 would bring the first major support level at $90.39 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$90 support levels.

Ripple’s XRP Back at sub-$0.32 Levels

Ripple’s XRP fell by 2.92% on Monday. Following on from a 0.68% fall on Sunday, Ripple’s XRP ended the day at $0.32076.

Tracking the broader market through the day, Ripple’s XRP fell from an early morning intraday high $0.33214 to an early afternoon intraday low $0.31446.

Falling short of the first major resistance level at $0.3371, Ripple’s XRP fell through the first major support level at $0.3218.

Holding above the second major support level at $0.3131, Ripple’s XRP managed to recover to $0.32 levels by the day end.

At the time of writing, Ripple’s XRP was down by 0.79% to $0.31821. A choppy start to the day saw Ripple’s XRP fall from a morning high $0.32028 to a low $0.31610.

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

For the day ahead, a move through the morning high $0.32028 to $0.3230 levels would bring the first major resistance level at $0.3304 into play.

Ripple’s XRP would need the support of the broader market, however, to move back through to $0.32 levels.

In the event of a crypto rebound, the first major resistance level at $0.3304 and Monday’s high $0.33214 should cap any upside.

Failure to move through to $0.3230 levels could see Ripple’s XRP slide back to test the first major support level at $0.3128.

An extended sell-off would bring the second major support level at $0.3048 into play. We would expect Ripple’s XRP to steer clear of sub-$0.30 levels, however.

Please let us know what you think in the comments below

Thanks, Bob