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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/11/19

Bob Mason

Bitcoin Cash – ABC – in Recovery

Bitcoin Cash ABC fell by 1.39% on Friday. Following on from a 3.18% slide on Thursday, Bitcoin Cash ABC ended the day at $277.61.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $283.08 before hitting reverse.

Falling well short of the first major resistance level at $293.97, Bitcoin Cash ABC slid to a late afternoon intraday low $271.13.

In spite of the pullback, Bitcoin Cash ABC steered clear of the first major support level at $270.79.

Finding support through the afternoon, Bitcoin Cash ABC struck a 2nd half of a day high $280.71 before sliding back.

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At the time of writing, Bitcoin Cash ABC was up by 0.91% to $280.14. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $277.81 to a high $282.

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

For the day ahead, a move back through to $281 levels would support a run at the first major resistance level at $283.41.

Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $283 levels.

Barring a broad-based crypto rally on the day, the first major resistance level and Friday’s high $283.07 would likely limit any upside.

Failure to move through to $281 levels could see Bitcoin Cash ABC hit reverse.

A fall back through the morning low $277.81 would bring the first major support level at $271.47 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$270 support levels.

Litecoin Struggles at $59

Litecoin slipped by 0.09% on Friday. Partially reversing a 0.57% gain from Thursday, Litecoin ended the day at $58.34.

A mixed start to the day saw Litecoin fall to an early morning low $57.52 before striking a late morning intraday high $59.0.

Falling short of the first major resistance level at $59.85, Litecoin slid to a late afternoon intraday low $56.66.

Litecoin fell through the first major support level at $56.97 before finding support from the broader market.

A recovery to $58.7 levels was short-lived, however, with a late pullback leaving Litecoin in the red for the day.

At the time of writing, Litecoin was down by 0.29% to $58.17. A mixed start to the day saw Litecoin rise to a morning high $58.54 before falling to a low $58.01.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, Litecoin would need to hold onto $58 levels to support a run at the first major resistance level at $59.34.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $59.00.

Barring a broad-based crypto rally, Litecoin would likely come up short of $60 levels for a 3rd consecutive day.

Failure to hold onto $58 levels could see Litecoin test the first major support level at $57.00 before finding support.

Barring a broad-based crypto sell-off, Litecoin should steer clear of Friday’s low $56.66.

Ripple’s XRP Eyes $0.30

Ripple’s XRP fell by 0.82% on Friday. Following on from a 0.11% decline on Thursday, Ripple’s XRP ended the day at $0.29312.

Bearish through much of the day, Ripple’s XRP fell from an early morning intraday high $0.29571 to a late afternoon intraday low $0.28600.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.28990.

Holding above the second major support level at $0.28420, Ripple’s XRP recovered to $0.29 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.83% to $0.29554. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.29329 to a high $0.29607.

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

For the day ahead, a move back through the morning high $0.29607 would bring the first major resistance level at $0.2972 into play.

Ripple’s XRP would need the support of the broader market, however, to break out from $0.2970 levels.

Barring an extended rally, Ripple’s XRP would likely fall short of $0.30 levels for a 3rd consecutive day.

Failure to move back through the morning high could see Ripple’s XRP hit reverse.

A fall through to $0.2915 levels would bring the first major support level at $0.2875 into play before any recovery.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.29 levels on the day.

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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