Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/06/19

Fibo Quantum

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC rallied by 5.13% on Friday. Reversing a 0.94% fall on Thursday, Bitcoin Cash ABC ended the business week up 2.34% to $436.6.

A bullish morning saw Bitcoin Cash ABC rally from an intraday low $415.28 to a late morning intraday high $444.0.

Steering clear of the first major support level at $406.01, Bitcoin Cash ABC broke through the major resistance levels.

A slide back to $423 levels in the early afternoon was the only bearish move of the day before recovering to $430 levels. Bitcoin Cash ABC broke back through the second major resistance level at $425.48.

At the time of writing, Bitcoin Cash ABC was up by 0.84% to $440.29. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $436.65 to a high $442.0 before easing back.

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

For the day ahead, a move back through the morning high $442.0 would support a run at the first major resistance level at $448.64.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from Friday’s high $444.0.

In the event of a broad-based crypto rally, Bitcoin Cash ABC could touch $450 levels before any pullback.

Failure to move back through the morning high $442.0 could see Bitcoin Cash ABC hit reverse. A fall through the morning low $436.65 would bring $420 levels into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of the first major support level at $419.92.

Litecoin Trailed the Pack

Litecoin rose by 2.36% on Friday. Reversing a 0.5% decline on Thursday, Litecoin ended the business week up 1.49% to $139.04.

Tracking the broader market, Litecoin rallied from a morning low $135.83 to a late morning intraday high $141.53.

Litecoin broke through the first major resistance level at $137.64 and second major resistance level at $139.28.

An early afternoon reversal saw Litecoin slide to an intraday low $135.35 before finding support.

Steering clear of the first major support level at $133.86, Litecoin recovered to $139 levels late in the day.

At the time of writing, Litecoin was down by 0.55% to $138.27. A bearish start to the day saw Litecoin fall from a morning high $139.32 to a low $138.04.

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

For the day ahead, a move back through to $138.70 levels would support a return to $140 levels later in the day.

Litecoin would need the support of the broader market, however, to break through the first major resistance level at $141.93.

Barring a broad-based crypto rally, Friday’s high $141.53 and the first major resistance level would likely limit any upside on the day.

Failure to move back through to $138.70 levels could see Litecoin slide deeper into the red. A fall through to $136 levels would bring the first major support level at $135.75 into play.

Barring a broad-based crypto sell-off, Litecoin would likely steer clear of sub-$130 levels. The second major support level at $132.46 should limit any downside on the day.

Ripple’s XRP Touches $0.45

Ripple’s XRP gained 3.28% on Friday. Reversing a 0.8% fall from Thursday, Ripple’s XRP ended the day at $0.44610. For the current week, Ripple’s XRP was up by 4.13%.

A bullish morning saw Ripple’s XRP rally from an intraday low $0.43133 to a late morning intraday high $0.45123.

Ripple’s XRP broke through the first major resistance level at $0.4400 and second major resistance level at $0.4473.

A pullback to $0.43 levels in the early afternoon was short-lived, with Ripple’s XRP recovering to $0.44 levels to hold above the first major resistance level at $0.4400.

At the time of writing, Ripple’s XRP was down by 0.43% to $0.44416. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.44616 to a low $0.44322 before steadying.

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

For the day ahead, a hold above $0.4430 through the morning would support a recovery later in the day.

Ripple’s XRP would need to move through the morning high $0.44616, however, to break back through to $0.45 levels.

In the event of a rebound, Ripple’s XRP would likely test the first major resistance level at $0.4544.

Barring a broad-based crypto rally, Ripple’s XRP will likely fall short of the second major resistance level at $0.4628.

Failure to move back through the morning high could see Ripple’s XRP slide to $0.43 levels before any recovery.

The first major support level at $0.4345 should limit the downside on the day.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: