Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/10/19

Fibo Quantum

Bitcoin Cash – ABC – Back up to $230 Levels

Bitcoin Cash ABC rallied by 7.42% on Monday. Reversing a 0.97% loss from Sunday, Bitcoin Cash ABC ended the day at $235.14.

It was a particularly bullish day on Monday. Bitcoin Cash ABC rallied from an early morning intraday low $218.99 to a late afternoon intraday high $237.50.

Steering clear of the major support levels, Bitcoin Cash ABC broke through the major resistance levels.

A late pullback saw Bitcoin Cash ABC fall back to the third major support level at $232.50 before wrapping up the day at $235 levels.

At the time of writing, Bitcoin Cash ABC was up by 1.64% to $239.0. Another bullish start to the day saw Bitcoin Cash ABC rally from an early morning low $233.6 to a high $239.0.

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

For the day ahead, a breakthrough to $240 levels would bring the first major resistance level at $242.13 into play.

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

In the event of another broad-based crypto rally, the second major resistance level at $249.11 will likely come into play.

Failure to move through to $240 levels could see Bitcoin Cash ABC give up some of the early gains.

A fall back through to sub-$230 levels would be needed, however, for the first major support level at $223.53 to come into play.

Barring a broad-based crypto sell-off, we would expect Bitcoin Cash ABC to steer clear of sub-$230 on the day.

Litecoin Visits $58

Litecoin rallied by 5.63% on Monday. Reversing a 4.17% slide from Sunday, Litecoin ended the day at $57.56.

A bearish start to the day saw Litecoin fall to an early morning intraday low $53.25 before finding support.

Steering clear of the first major support level at $52.69, Litecoin rallied to a late afternoon intraday high $58.7.

Litecoin broke through the first major resistance level at $56.62 to come up against the second major resistance level at $58.75.

A pullback through the latter part of the day left Litecoin back at $57 levels at the day end.

At the time of writing, Litecoin was up by 0.63% to $57.92. A bullish start to the day saw Litecoin rally from an early morning low $57.34 to a high $58.5.

Litecoin left the major support and resistance levels untested, in spite of the early breakout.

For the day ahead, a move back through the morning high would support a run at the first major resistance level at $59.76.

Litecoin would need the support of the broader market, however, to break through to $59 levels.

In the event of an extended crypto rally, Litecoin would likely visit $60 levels before any pullback.

Failure to move back through the morning high could see Litecoin hit reverse. A fall through the morning low $57.34 would bring $56 levels back into play.

Barring a slide through to sub-$56.50 levels, however, we would expect Litecoin to steer well clear of the first major support level at $54.31.

Ripple’s XRP Bucked the Trend

Ripple’s XRP rallied by 8.04% on Monday. Following a 0.78% gain from Sunday, Ripple’s XRP ended the day at $0.2768.

It was bullish through most of the day for Ripple’s XRP. Ripple’s XRP rallied from an early morning intraday low $0.25424 to a late afternoon intraday high $0.28265.

Steering clear of the major support levels, Ripple’s XRP broke through the major resistance levels on the day.

In spite of a late pullback to $0.27 levels, Ripple’s XRP held above the third major resistance level at $0.2664 at the day end.

At the time of writing, Ripple’s XRP was up by 2.52% to $0.28378. Another bullish start to the day saw Ripple’s XRP rally from an early morning low $0.27572 to a high $0.28667.

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

For the day ahead, a hold onto $0.28 levels would support another run at the first major resistance level at $0.2882.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.28667.

In the event of an extended rally through the day, Ripple’s XRP would likely hit $0.29 levels before any pullback.

Failure to hold onto $0.28 levels could see Ripple’s XRP cough up the early gains.

Barring a fall through to sub-$0.2710 levels, however, we would expect Ripple’s XRP to steer well clear of the first major support level at $0.2598.

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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