U.S. Markets closed

Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/04/19

Bob Mason

Bitcoin Cash – ABC – Slides Back

Bitcoin Cash ABC fell by 2.52% on Saturday. Reversing a 0.2% gain from Friday, Bitcoin Cash ABC ended the day at $299.93.

Relatively choppy through the day, Bitcoin Cash ABC struck an early morning intraday high $310 before hitting reverse.

Falling short of the first major resistance level at $315.08, Bitcoin Cash ABC tumbled to a late intraday low $295.

Support at the first major support level at $294.99 limited the losses on the day, most of which came in a late sell-off. In spite of the pullback, Bitcoin Cash ABC managed to hold above the 23.6% FIB of $291.

At the time of writing, Bitcoin Cash ABC was up 1.02% to $303.00. A relatively bullish start to the day saw Bitcoin Cash ABC rise from a morning low $302.8 to a high $303. Whilst leaving the major support and resistance levels untested, a return to $300 levels was key early on.

For the day ahead, a hold above $301 levels through the morning would support further upside on the day.

A move through to $305 levels would bring the first major resistance level at $308.29 into play. Barring a broad-based crypto rally, Bitcoin Cash ABC will likely come up short of the second major resistance level at $316.64.

Failure to hold above $301 levels could see Bitcoin Cash ABC hit reverse later in the day. A fall through to $300 levels would bring the first major support level at $293.29 into play.

Barring a crypto meltdown, Bitcoin Cash ABC will likely steer clear of sub-$290 support levels on the day.

Litecoin Tracks the Pack

Litecoin slid by 1.1% on Saturday. Reversing a 0.6% rise from Friday, Litecoin ended the day at $81.69.

A relatively bullish morning saw Litecoin rise to a late morning intraday high $83.08 before hitting reverse.

Falling short of the first major resistance level at $84.19, selling pressure at the 38.2% FIB of $83 limited the upside on the day.

The reversal saw Litecoin tumble through the first major support level at $80.48 to an intraday low $79.66 before recovering to $80 levels.

At the time of writing, Litecoin was down 0.26% to $81.48. A choppy start to the day saw Litecoin rise to a morning high $82.4 before sliding back.  Falling short of the first major resistance level at $83.29 and 38.2% FIB of $83, Litecoin fell to a morning low $81.43. Litecoin managed to hold above the first major support level at $79.87 in spite of the pullback.

For the day ahead, a hold onto $81.4 levels would support a recovery later in the day. A move back through this morning’s high $82.4 would bring the first major resistance level at $83.29 into play.

Barring a broad-based crypto rally, Litecoin will likely continue to fall short of $84 levels on the day.

Failure to hold onto $81.4 levels could see Litecoin slide back through to sub-$80 levels. Barring a broad-based crypto sell-off, Litecoin will likely steer clear of sub-$79 levels. The first major support level at $79.87 would likely limit the downside on the day.

Ripple Looking for Support

Ripple’s XRP fell by 1.22% on Saturday. Following on from a 1.57% decline on Friday, Ripple’s XRP ended the day at $0.32979.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.33694 before hitting reverse.

Coming within range of the first major resistance level at $0.3388, Ripple’s XRP slid to a late in the day intraday low $0.32451.

The reversal saw Ripple’s XRP fall through the first major support level at $0.3288 before finding support.

At the time of writing, Ripple’s XRP was up 0.15% to $0.33030. A mixed start to the day saw Ripple’s XRP rise from a morning low $0.32906 to a high $0.33161.

Ripple’s XRP steered clear of the major support and resistance levels in the early hours.

For the day ahead, a hold onto $0.33 levels through the morning would support a run at the first major resistance level at $0.3363.

Barring a broad-based crypto rally, Ripple’s XRP will likely come up short of the second major resistance level at $0.3428.

In the event of a broad-based rally, $0.35 levels could come into play before any pullback.

Failure to hold onto $0.33 levels could see Ripple’s XRP slide through Saturday’s low $0.32451.

Barring a crypto meltdown, Ripple’s XRP will likely steer clear of $0.31 levels on the day. The first major support level at $0.3239 will likely limit the downside in the event of a pullback.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: