Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/06/19

Bitcoin Cash – ABC – Sees Green

Bitcoin Cash ABC rose by 0.84% on Wednesday. Reversing a 0.04% fall from Tuesday, Bitcoin Cash ABC ended the day at $394.07.

A choppy morning saw Bitcoin Cash ABC recover from an early intraday low $383.44 to strike a morning high $394.

Falling short of the first major resistance level at $396.52, the 23.6% FIB of $393 continued to be the line in the sand.

Bitcoin Cash ABC eased back to $388 levels before an early afternoon rally saw Bitcoin Cash ABC strike an intraday high $403.25.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $396.42 and second major resistance level at $402.26.

A mid-afternoon pullback saw Bitcoin Cash ABC slide to $391 levels before finding support.

At the time of writing, Bitcoin Cash ABC was by 0.84% to $397.40. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $394.64 to a high $404.66.

The early rally saw Bitcoin Cash ABC break through the first major resistance level at $403.73 before easing back.

For the day ahead, a hold above the 23.6% FIB of $393 would support another run at $400 levels later in the day.

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

Barring a broad-based crypto rally, Wednesday’s high $403.25 and the first major resistance level would limit any upside.

Failure to hold above the 23.6% FIB could see Bitcoin Cash ABC test the first major support level at $383.92 before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$380 levels on the day.

Litecoin Bucked the Trend

Litecoin ended the day flat on Wednesday. Following a 5.1% rally from Tuesday, Litecoin ended the day at $136.19.

Bullish through much of the day, Litecoin rallied from a morning low $134.2 to an afternoon intraday high and new swing hi $144.34.

Litecoin broke through the first major resistance level at $141.68 before sliding back to a late intraday low $130.45.

Steering clear of the major support levels, Litecoin managed to reverse the day’s loss late on.

At the time of writing, Litecoin was down by 1.08% to $134.72. A mixed start to the day saw Litecoin rise to a morning high $136.79 before falling to a low $133.33.

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

For the day ahead, a move back through the morning high to $137 levels would support a run at $140 levels.

Litecoin would need to move through to $140 levels by the early afternoon to take a run at the first major resistance level at $143.54.

In the event of another breakout, a visit to $145 levels remains on the cards.

Failure to move through to $137 levels could see Litecoin struggle through the day.  A fall back through the morning low $133.33 could see Litecoin test the first major support level at $129.65.

Barring a broad-based sell-off, however, Litecoin would likely avoid heavier losses on the day.

Ripple’s XRP holds onto $0.40

Ripple’s XRP rose by 2.48% on Wednesday. Partially reversing a 2.09% fall from Tuesday, Ripple’s XRP ended the day at $0.40304.

Tracking the broader market, Ripple’s XRP rose from an early intraday low $0.38091 to an early afternoon intraday high $0.40431.

The early pullback saw Ripple’s XRP fall through the first major support level at $0.3832. The afternoon high saw Ripple’s XRP test the first major resistance level at $0.4034 before easing back.

Late support from the broader market led Ripple’s XRP back through to $0.40 levels by the day end.

At the time of writing, Ripple’s XRP was up by 0.86% to $0.40651. A bullish start to the day saw Ripple’s XRP rise from a morning low $0.40023 to a high $0.4107.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.4086.

For the day ahead, a hold onto $0.40 levels would support another break through the first major resistance level to $0.41 levels.

Ripple’s XRP would need support from the broader market, however, to take a run at the second major resistance level at $0.4141 and 23.6% FIB of $0.4164.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.41 levels at the 2^nd time of asking.

Failure to hold onto $0.40 levels could see Ripple’s XRP slide back through the morning low $0.40023.

A broad-based sell-off would bring the first major support level at $0.3933 into play 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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