Advertisement
Australia markets closed

  • ALL ORDS

    7,897.50
    +48.10 (+0.61%)
     

  • ASX 200

    7,629.00
    +42.00 (+0.55%)
     

  • AUD/USD

    0.6612
    +0.0041 (+0.63%)
     

  • OIL

    77.99
    -0.96 (-1.22%)
     

  • GOLD

    2,310.10
    +0.50 (+0.02%)
     

  • Bitcoin AUD

    95,033.29
    +4,516.20 (+4.99%)
     

  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     

  • AUD/EUR

    0.6140
    +0.0020 (+0.33%)
     

  • AUD/NZD

    1.0992
    -0.0016 (-0.15%)
     

  • NZX 50

    11,938.08
    +64.04 (+0.54%)
     

  • NASDAQ

    17,890.79
    +349.25 (+1.99%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • Dow Jones

    38,675.68
    +450.02 (+1.18%)
     

  • DAX

    18,001.60
    +105.10 (+0.59%)
     

  • Hang Seng

    18,475.92
    +268.79 (+1.48%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/03/19

Bob Mason
Updated

Bitcoin Cash – ABC – in Recovery

Bitcoin Cash ABC slipped by 0.19% on Tuesday. Following a 2.68% slide from Tuesday, Bitcoin Cash ABC ended the day at $158.21.

A bearish morning saw Bitcoin Cash ABC fall from an early intraday high $158.59 to a mid-day intraday low $152.62. Falling short of the first major resistance level at $163.37, Bitcoin Cash ABC fell through the first major support level at $154.45.

In spite of the pullback, Bitcoin Cash ABC managed to avoid falling back through the 38.2% FIB of $152. An afternoon recovery saw Bitcoin Cash ABC move back through to $158 levels late in the day.

ADVERTISEMENT

At the time of writing, Bitcoin Cash ABC was up 2.7% to $162.48. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $157.50 to a high $164.21 before easing back.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $160.33 and second major resistance level at $162.44. Bitcoin Cash ABC managed to steer well clear of the first major support level at $154.36 early on.

For the day ahead, a hold above the second major resistance level at $162.44 would support a move back through to $164 levels. Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at $165 levels.

In the event of a broad-based crypto rally, Bitcoin Cash ABC could test the third major resistance level at $168.41 before any pullback.

Failure to hold above $162.44 could see Bitcoin Cash ABC ease back later in the day. Barring a broad-based crypto reversal, however, we would expect Bitcoin Cash ABC to steer clear of sub-$160 levels.

Litecoin Eyeing $60 Levels

Litecoin fell 0.26% on Tuesday. Following a 1.35% pullback on Monday, Litecoin ended the day at $58.48.

Tracking the broader market, Litecoin fell from an early morning intraday high $58.89 to a mid-afternoon intraday low $57.06.

Litecoin came up short of the first major resistance level and 23.6% FIB at $60.0 before hitting reverse. The pullback saw Litecoin fall through the first major support level at $57.57 before recovering.

Sub-$58 support through the afternoon prevented heavier losses and supported a move back through to $58 levels late in the day.

At the time of writing, Litecoin was up by 2.17% to $59.75. A bullish start to the day saw Litecoin rally from a morning low $58.3 to a high $60.20 before easing back. Litecoin broke through the first major resistance level and second major resistance level at $59.97. Of greater significance was a move back through the 23.6% FIB of $60.

For the day ahead, a move back through the 23.6% FIB would support a return to $61 levels before any pullback. Support from the broader market would be needed, however, for Litecoin to hold onto $60 levels. In the event of a crypto rally, we would expect Litecoin to come up short of the third major resistance level at $61.8.

Barring a crypto meltdown, we would expect Litecoin to steer clear of the first major support level at $57.4. A shift in sentiment could bring $58 levels back into play before any recovery.

Ripple Sees sub-$0.30 Before a Bounce Back

Ripple’s XRP gained 0.35% on Tuesday. Partially reversing a 1.86% fall from Monday, Ripple’s XRP ended the day at $0.30699.

Bearish through the morning, Ripple’s XRP fell through the first major support level at $0.3019 to an intraday low $0.2985.

Ripple’s XRP found support at the second major support level at $0.2979. Ripple’s XRP rallied through to an end of day intraday high $0.30699.

In spite of the rebound, Ripple’s XRP came up short of the first major resistance level at $0.3111. It was a first visit to sub-$0.30 levels since 14th March, with market sentiment driving the moves through the day.

At the time of writing, Ripple’s XRP was up by 1.22% to $0.31073. Ripple’s XRP broke through the first major resistance level at $0.3098 to strike a morning high $0.31114.

A start of a day morning low $0.30435 saw Ripple’s XRP steer clear of the first major support level at $0.3013.

For the day ahead, a hold onto $0.31 levels would support a move back through the second major resistance level to $0.3150 levels. Barring a broad-based breakout from current levels, we would expect Ripple’s XRP to come up short of $0.32 levels.

Failure to hold onto $0.31 levels could see Ripple’s XRP pullback through the morning low $0.30435. A pullback would likely see Ripple’s XRP test the first major support level at $0.3013 before any recovery. Barring a crypto meltdown, sub-$0.30 support levels will likely be left untested.

Buy & Sell Cryptocurrency Instantly

This article was originally posted on FX Empire

More From FXEMPIRE: