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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/07/19

Bob Mason

Bitcoin Cash – ABC – Sees More Red

Bitcoin Cash ABC fell by 2.59% on Saturday. Reversing a 1.49% gain from Friday, Bitcoin Cash ABC ended the day at $343.85.

A bearish start to the day saw Bitcoin Cash ABC fall from an early morning intraday high $353 to a late morning intraday low $333.64.

Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $341.45.

An early afternoon recovery to $348 levels was short-lived, with Bitcoin Cash ABC sliding back through the first major support level.

Support late in the day led to a move back to $340 levels to limit the downside on the day.

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At the time of writing, Bitcoin Cash ABC was down 1% to $340.41. In the early morning, Bitcoin Cash ABC rose to a morning high $344.34 before falling to a low $340.41.

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

For the day ahead, a move back through to $344 levels would support a run at $350 levels. Bitcoin Cash ABC would need the support of the broader market, however, to break through the first major resistance level at $353.35.

Barring a broad-based crypto rally, Saturday’s high $353 and the first major resistance level would limit the upside on the day.

Failure to move back through to $344 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through to $337 levels would bring the first major support level at $333.99 into play.

Barring another crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$330 support levels on the day.

Litecoin Recovers to $100

Litecoin fell by 3.88% on Saturday. Reversing a 2.08% rise from Friday, Litecoin ended the day at $101.15.

A particularly bearish morning saw Litecoin slide from an intraday high $105.51 to a late morning low $99.63.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $101.5.

Finding support in the late morning, Litecoin recovered to $104 levels before sliding to a late intraday low $97.5

Falling back through the first major support level, Litecoin also fell through the 38.2% FIB of $99 and second major support level at $97.84.

Late support led to a move back through to $101 levels.

At the time of writing, Litecoin was down by 0.6% to $100.54. A mixed start to the day saw Litecoin fall from a morning high $101.91 to a low $98.98 before finding support.

Steering clear of the major support and resistance levels, the 38.2% FIB of $99 limited the downside early on.

For the day ahead, a move back through to $101.4 levels would support a bounce back later in the day.

Litecoin would need to move through to $103 levels, however, to take a run at the first major resistance level at $105.27.

Barring a broad-based crypto rally, Saturday’s high $105.51 and the first major resistance level would limit any upside.

Failure to move back through to $101.4 levels could see Litecoin test the 23.6% FIB of $99. Barring another crypto meltdown, Litecoin should steer clear of the first major support level at $97.26.

Ripple’s XRP Finds Support

Ripple’s XRP fell by 3.65% on Saturday. Partially reversing a 4.45% rally from Friday, Ripple’s XRP ended the day at $0.3309.

Tracking the broader market, Ripple’s XRP slid from an intraday high $0.34413 to a late morning low $0.32742.

Steering clear of the major support and resistance levels, Ripple’s XRP recovered to $0.33 levels before hitting reverse.

A late afternoon sell-off saw Ripple’s XRP fall to an intraday low $0.323 before recovering to $0.33 levels.

The late pullback saw Ripple’s XRP find support at the first major support level at $0.3255.

At the time of writing, Ripple’s XRP was down by 0.53% to $0.32916. A mixed morning saw Ripple’s XRP rise to a morning high $0.33435 before falling to a low $0.32665.

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

For the day ahead, a move back through to $0.3330 levels would support a run at the first major resistance level at $0.3424.

Ripple’s XRP would need support from the broader market, however, to break through to $0.34 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $0.34413 would cap any upside.

Failure to move back through to $0.3330 levels could see Ripple’s XRP take a hit. A fall through to $0.3250 levels would bring the first major support level at $0.3212 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.3115.

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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