Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/05/19

Bitcoin Cash – ABC – Hits New Highs

Bitcoin Cash ABC gained 1.0% on Monday. Following on from a 6.73% rally from Sunday, Bitcoin Cash ABC ended the day at $439.61.

Another choppy day saw Bitcoin Cash ABC rise from a morning low $427 to a high $448.05 before easing back.

Bitcoin Cash ABC steered clear of the major support and resistance levels through the morning.

An early afternoon rally saw Bitcoin Cash ABC move to an intraday high and new swing hi $458 before hitting reverse.

Bitcoin Cash ABC broke through the first major resistance level at $449.90 before sliding to an intraday low $420.67.

Holding well above the first major support level at $400.38, Bitcoin Cash ABC found support late on to move back into positive territory.

At the time of writing, Bitcoin Cash ABC was up by 0.29% to $440.88. A mixed start to the day saw Bitcoin Cash ABC fall to a morning low $434.78 before recovering to a high $443.76.

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

For the day ahead, a hold onto $440 levels would support a move back through to $450 levels later in the day.

Support from the broader market would give Bitcoin Cash ABC a run at Monday’s high $458 and first major resistance level at $458.18.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely be pinned back by the first major resistance level on the day.

Failure to hold onto $440 levels could see Bitcoin Cash ABC slide through the morning low $434.78 to sub-$430 levels.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC would likely steer clear of the first major support level at $420.85.

Litecoin Hits another 2019 High

Litecoin rose by 3.54% on Monday. Following on from a 9.16% rally from Sunday, Litecoin ended the day at $116.50.

Bullish through the morning, Litecoin rallied from a morning low $111.15 to an early afternoon intraday high $122 before easing back.

The rally saw Litecoin break through the first major resistance level at $118.37 and 62% FIB of $121 before sliding to an intraday low $110.58.

While falling back through the 62% FIB of $121, Litecoin steered clear of the major support levels on the day.

At the time of writing, Litecoin was down by 0.58% to $115.82. Litecoin hit a morning low $114.86 and strike a morning high $118.21 within the first hour.

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

For the day ahead, a move back through to $116.40 levels would support another run at $120 levels later in the day.

Litecoin would need support from the broader markets, however, to take a run at Monday’s high $122 and the first major resistance level at $122.14.

Failure to move back through to $116.40 levels could see Litecoin fall deeper into the red before any recovery.

A pullback through the morning low to $113 levels would bring the first major support level at $110.72 into play.

Barring a broad-based crypto sell-off, Litecoin will likely steer well clear of the second major support level at $104.94.

Ripple Makes another Splash

Ripple’s XRP gained 6.46% on Monday. Following on from a 6.66% rise on Sunday, Ripple’s XRP ended the day at $0.43583.

A relatively range-bound morning saw Ripple’s XRP hover at around the 23.6% FIB of $0.4164. An early afternoon rally saw Ripple’s XRP hit an intraday high $0.44889.

The brief visit to $0.44 levels saw Ripple’s XRP break through the first major resistance level at $0.4264 and second major resistance level at $0.4435 before hitting reverse.

Ripple’s XRP managed to recover from a pullback to $0.41 levels to end the day at $0.43 levels.

At the time of writing, Ripple’s XRP was down by 0.61% to $0.43316. Tracking the broader market, Ripple’s XRP hit a morning high $0.44142 and low $0.42780 within the first hour.

In spite of a choppy start to the day, Ripple’s XRP left the major support and resistance levels untested.

For the day ahead, a hold above $0.4310 levels would support a recovery later in the day. A move back through to $0.44142 would give Ripple’s XRP a run at the first major resistance level at $0.4537.

Barring a broad-based crypto rebound, however, Ripple’s XRP will likely struggle to break out from the morning high.

Failure to hold above $0.4310 levels could see Ripple’s XRP struggle through the day. A fall back through the morning low $0.42780 would bring $0.41 levels into play before any recovery.

The 23.6% FIB of $0.4164 and first major support level at $0.4132 would likely limit the downside on the day. In the event of an extended sell-off, expect a return to $0.40 levels before any recovery.

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Thanks, Bob