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

Fibo Quantum

Bitcoin Cash – ABC – and the Bounce Back

Bitcoin Cash ABC rallied by 8.88% on Thursday. Following on from a 1.97% gain on Wednesday, Bitcoin Cash ABC ended the day at $314.29.

A choppy morning saw Bitcoin Cash ABC rise to a morning high $304 before sliding back to a mid-day intraday low $285.13.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC rallied to a late afternoon intraday high $323.73.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $307.46 before easing back. Bitcoin Cash ABC came up short of the second major resistance level at $325.25.

At the time of writing, Bitcoin Cash ABC was down by 0.24% to $313.53. A relatively bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $315.29 to a low $310.24.

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

For the day ahead, a move back through to $315 levels would bring Thursday’s high $323.73 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level a $330.30.

Failure to move back through the morning high could see Bitcoin Cash ABC come under greater pressure on the day. A fall through the morning low $310.24 to $306 levels would bring the first major support level at $291.7 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 levels.

Litecoin Hits the $100s

Litecoin jumped by 12.37% on Thursday. Following on from a 13.19% surge on Wednesday, Litecoin ended the day at $101.4.

Recovering from an early morning intraday low $87.01, Litecoin rallied to a late afternoon intraday high $105.0.

Having steered clear of the major support levels, Litecoin broke through the first major resistance level at 97.90 and 38.2% FIB of $99.

The second major resistance level at $105.55 pinned Litecoin back from higher levels on the day.

In spite of a pullback through the latter part of the day, Litecoin held above the first major resistance level and 38.2% FIB at the day end.

At the time of writing, Litecoin was down by 1.97% to $99.40. A bearish start to the day saw Litecoin fall from an early morning high $101.67 to a low $98.23.

Falling short of the major resistance levels, Litecoin tested support at the 38.2% FIB of $99 early on.

For the day ahead, a hold above the 38.2% FIB would support a recovery later in the day. A move back through the morning high would bring the first major resistance level at $108.6 into play.

Barring a broad-based crypto rally, Litecoin will likely come up short of $110 levels.

Failure to hold above the 38.2% FIB of $99 could see Litecoin fall deeper into the red. A fall back through the morning low to $97 levels would bring the first major support level at $90.61 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$90 levels on the day.

Ripple’s XRP Back to $0.32 Levels

Ripple’s XRP rose by 3.10% on Thursday. Following on from a 5.33% rally on Wednesday, Ripple’s XRP ended the day at $0.32033.

A choppy morning saw Ripple’s XRP rise to a morning high $0.31917 before hitting reverse. Coming up short of the first major resistance level at $0.3254, Ripple’s XRP slid to an intraday low $0.30248.

Ripple’s XRP steered well clear of the first major support level at $0.2938 before rallying to a late afternoon intraday high $0.32618.

Ripple’s XRP broke through the first major resistance level at $0.3254 before easing back. Support at $0.32 was key on the day.

At the time of writing, Ripple’s XRP was down by 0.03% to $0.32024. Relatively range-bound early on, Ripple’s XRP fell from a morning high $0.32244 to a low $0.31760 before finding support.

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

For the day ahead, a hold onto $0.32 levels would support a run at Thursday’s high $0.32618. Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.3302.

Barring a broad-based crypto rally, Thursday’s high would likely pin Ripple’s XRP back from $0.33 levels on the day.

Failure to hold onto $0.32 levels could see Ripple’s XRP fall back through the morning low $0.31760 to sub-$0.3160 levels.

A fall through $0.3160 levels would bring the first major support level at $0.3065 into play. Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.30 support levels on the day.

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Thanks, Bob

This article was originally posted on FX Empire

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