Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/07/19

Fibo Quantum

Bitcoin Cash – ABC – Back in the Red

Bitcoin Cash ABC rose by 0.74% on Thursday. Following on from a 2.39% gain on Wednesday, Bitcoin Cash ABC ended the day at $303.22.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $311.26 before hitting reverse.

Coming within range of the first major resistance level at $311.81, Bitcoin Cash ABC fell to a late intraday low $294.72.

Bitcoin Cash ABC managed to steer clear of the first major support level at $288.81 to bounce back to $300 levels late on.

At the time of writing, Bitcoin Cash ABC was down by 1.96% to $297.28. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $301 to a low $294.72 before finding support.

Whilst steering clear of the major resistance levels, Bitcoin Cash ABC tested the first major support level at $294.88 early.

For the day ahead, a move through the morning high $301 to $303 levels would support a run at the first major resistance level at $311.41.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $311.25 would limit any upside.

Failure to move back through the morning high to $303 levels would see Bitcoin Cash ABC struggle through the day.

A fall back through the first major support level at $294.88 would bring sub-$290 levels into play before any recovery.

Barring an extended sell-off through the day, Bitcoin Cash ABC should steer clear of the second major support level at $286.53.

Litecoin Hits Reverse

Litecoin fell by 1.18% on Thursday. Partially reversing a 4.92% rally from Wednesday, Litecoin ended the day at $93.29.

A choppy start to the day saw Litecoin rise to an early intraday high $96.85 before pulling back to a mid-morning low $92.71.

Steering clear of the major support and resistance levels, Litecoin recovered to $96 levels before hitting reverse.

The reversal saw Litecoin slide to a late intraday low $91.12 before finding support to move back to $93 levels.

In spite of the afternoon sell-off, Litecoin managed to steer clear of the first major support level at $87.92.

At the time of writing, Litecoin was down by 2.87% to $90.61. A bearish start to the day saw Litecoin fall from a morning high $93.3 to a low $90.18.

Falling short of the major resistance levels, Litecoin fell through the first major support level at $90.66 early on.

For the day ahead, a move back through the morning high to $93.80 levels would support a run at the first major resistance level at $96.39.

Litecoin would need the support of the broader market, however, to break out from $93 levels.

Barring a broad-based crypto rally, Thursday’s high $96.85 and the first major resistance level at $96.39 should limit any upside.

Failure to move through the morning high to $93.8 levels would see Litecoin struggle on the day. A fall back through the morning low would bring the second major support level at $88.02 into play.

Barring a crypto meltdown, the second major support level should limit any downside on the day.

Ripple’s XRP Visits sub-$0.31 Levels

Ripple’s XRP fell by 0.6% on Thursday. Partially reversing a 2.41% gain from Wednesday, Ripple’s XRP ended the day at $0.31358.

A bullish start to the day saw Ripple’s XRP break through the first major resistance level at $0.3221 to an early intraday high $0.324 before easing back to $0.316 levels.

Finding support through the late morning, Ripple’s XRP moved back through to $0.32 levels before hitting reverse.

A sell-off through the afternoon saw Ripple’s XRP fall to a late intraday low $0.31167 before steadying.

Ripple’s XRP left the major support levels untested on the day.

At the time of writing, Ripple’s XRP was down by 1.29% to $0.30953. A bearish start to the day saw Ripple’s XRP slide from a morning high $0.31387 to a low $0.30750 before finding support.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.3088 early on.

For the day ahead, a move through the morning high $0.31387 to $0.31650 levels would support a run at $0.32.

Ripple’s XRP would need the support of the broader market, however, to break out from the first major resistance level at $0.3212.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $0.324 should limit any upside.

Failure to move through the morning high to $0.31650 levels would see Ripple’s XRP struggle on the day.

A fall back through the first major support level at $0.3088 would bring the second major support level at $0.3041 into play.

Barring a crypto meltdown, Ripple’s XRP should continue to steer clear of sub-$0.30 levels.

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Thanks, Bob