Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/07/19

Fibo Quantum

Bitcoin Cash – ABC – Bucks the Trend Early

Bitcoin Cash ABC rallied by 5.57% on Saturday. Reversing a 2.01% fall from Friday, Bitcoin Cash ABC ended the day at $325.

Bullish from the start of the day, Bitcoin Cash ABC rallied from an early intraday low $307.86 to a late afternoon intraday high $343.65.

Bitcoin Cash ABC broke through the first major resistance level at $316.71 and second major resistance level at $325.57.

Whilst steering well clear of the major support levels on the day, Bitcoin Cash ABC came up short of the 38.2% FIB of $359.

At the time of writing, Bitcoin Cash ABC was up by 1.05% to $328.42. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $331 before easing back.

Falling short of the first major resistance level at $343.15, Bitcoin Cash ABC fell to a morning low $321.41 before finding support. Bitcoin Cash ABC steered well clear of the first major support level at $307.36 early on.

For the day ahead, a hold above $325 levels would support another run at the first major resistance level at $343.15.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $331.

Barring a broad-based crypto rally, Saturday’s high $343.65 and the first major resistance level should limit any upside on the day.

Failure to hold above $325 levels could see Bitcoin Cash ABC test the first major support level at $307.36.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$300 support levels on the day.

Litecoin Hits Reverse

Litecoin rose by 1.86% on Saturday. Partially reversing a 2.61% fall from Friday, Litecoin ended the day at $100.48.

A choppy morning saw Litecoin recover from an early intraday low $97.53 to strike a morning high $101.64.

Steering clear of the major support and resistance levels, Litecoin eased back to $98 levels before hitting an intraday high $106.04.

A late pullback limited the upside on the day.

Whilst steering clear of the support and resistance levels, the 38.2% FIB of $99 continued to be in play.

At the time of writing, Litecoin was down by 2.2% to $98.27. Tracking the broader market, Litecoin struck an early morning high $101.86 before hitting reverse.

Litecoin fell to a morning low $96.77 before recovering to $98 levels. The reversal saw Litecoin fall through the 38.2% FIB of $99 to come within range of the first major support level at $96.66.

For the day ahead, a move back through to $101 levels would support a run at the first major resistance level at $105.17.

Litecoin would need the support of the broader market, however, to break out from $101 levels.

Barring a broad-based crypto rebound, Litecoin would likely continue to struggle at the 38.2% FIB.

Failure to move back through to $101 levels could see Litecoin fall deeper into the red. A fall through the first major support level at $96.66 could bring the second major support level at $92.84 into play.

Ripple’s XRP back at $0.32 Levels

Ripple’s XRP gained 4.19% on Saturday. Following a 0.26% fall from Friday, Ripple’s XRP ended the day at $0.33278.

A bullish start to the day saw Ripple’s XRP rise from an early intraday low $0.31822 to a morning high $0.3330.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3246 and second major resistance level at $0.3297.

Recovering from pullback to $0.32 levels, Ripple’s XRP rallied to a late intraday high $0.34097.

Ripple’s XRP broke back through the first and second major resistance levels. Ripple’s XRP came up short of the third major resistance level at $0.3422, however.

At the time of writing, Ripple’s XRP was down by 1.47% to $0.32788. A mixed start to the day saw Ripple’s XRP hit a morning high $0.33501. Tracking the broader market, Ripple’s XRP fell back to a morning low $0.3260.

In spite of the early moves, Ripple’s XRP steered clear of the major support and resistance levels early on.

For the day ahead, a move back through to $0.33 levels would support another run at the first major resistance level at $0.3431.

Ripple’s XRP would need support form the broader market, however, to break out from Saturday’s high $0.34097.

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

Failure to move back through to $0.33 levels could see Ripple’s XRP struggle on the day. A fall through the morning low $0.326 would bring the first major support level at $0.3203 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.31 support levels.

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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