Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/07/19

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Bitcoin Cash – ABC – Holds onto $300

Bitcoin Cash ABC slid by 4.48% on Saturday. Reversing a 4.7% gain from Friday, Bitcoin Cash ABC ended the day at $306.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $325 before hitting reverse.

Falling short of the first major resistance level at $327.94, Bitcoin Cash ABC slid to an early afternoon intraday low $298.67.

Finding support at the first major support level at $298.54, Bitcoin Cash ABC recovered to $300 levels late in the day.

At the time of writing, Bitcoin Cash ABC was down by 0.33% to $305. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $306.19 before falling to a low $302.10.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC recovered to $305 levels.

For the day ahead, a move through to $310 levels would bring $320 levels back into play. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $321.11.

Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $325 would limit any upside.

Failure to move through to $310 levels could see Bitcoin Cash ABC give up more ground on the day. A fall back through the morning low $302.10 would bring the first major support level at $298.78 into play.

Barring a crypto meltdown, Bitcoin Cash ABC would likely steer clear of sub-$290 support levels on the day.

Litecoin Struggles at $90

Litecoin slid by 5.75% on Saturday. Reversing a 1.1% gain from Friday, Litecoin ended the day at $88.87.

A bullish start to the day saw Litecoin strike an early intraday high 96.53 before hitting reverse.

Litecoin broke through the first major resistance level at $95.94 before sliding to an early afternoon intraday low $86.57.

The sell-off saw Litecoin fall through the first major support level at $91.46 and second major support level at $88.58.

Finding support late in the day, Litecoin managed to move back to $88 levels to reduce the deficit on the day.

At the time of writing, Litecoin was up by 0.6% to $89.40. A bearish start to the day saw Litecoin fall to an early morning low $87.5 before finding support.

Steering clear of the first major support level at $84.78, Litecoin recovered to a morning high $90.14 before easing back. Litecoin left the major resistance levels untested early on.

For the day ahead, a move through to $90.70 levels would support a run at the first major resistance level at $94.74. Litecoin would need the support of the broader market, however, to break out from $91 levels.

Barring a crypto rally, the first major resistance level and Saturday’s high $96.53 would likely pin Litecoin back from the 38.2% FIB of $99.

Failure to move through to $90.70 levels could see Litecoin slide back into the red. A fall back through the morning low $87.5 would bring the first major support level at $84.78 into play.

Barring another crypto meltdown, Litecoin should steer clear of the second major support level at $80.70.

Ripple’s XRP Back at $0.31 Levels

Ripple’s XRP fell by 4.31% on Saturday. Reversing a 3.14% gain from Friday, Ripple’s XRP ended the day at $0.30945.

Tracking the broader market, Ripple’s XRP struck an early intraday high $0.32836 before hitting reverse. Falling short of the major resistance levels, Ripple’s XRP slid to a mid-afternoon intraday low $0.30398.

Ripple’s XRP fell through the first major support level at $0.3122 before finding support. A brief return to $0.31 levels was short-lived, with Ripple’s XRP ending the day at sub-$0.31 levels for the first time since Tuesday.

At the time of writing, Ripple’s XRP was up by 0.37% to $0.31058. Recovering from an early morning low $0.30772, Ripple’s XRP hit a morning high $0.31260 before easing back.

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

For the day ahead, a move through the morning high $0.3126 to $0.3140 levels would support recovery from Saturday’s losses.

A move through to $0.3140 levels would bring the first major resistance level at $0.3239 into play.

Barring a broad-based crypto rally, the first major resistance level, and Saturday’s high would leave $0.33 levels out of reach.

Failure to move through to $0.3140 levels would see Ripple’s XRP hit reverse. A fall through the morning low $0.30772 would bring the first major support level at $0.2995 into play before any recovery.

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Thanks, Bob

This article was originally posted on FX Empire

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