Yahoo Finance Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/04/19
Bitcoin Cash – ABC – Bounces Back
Bitcoin Cash ABC rose by 1.96% on Sunday. Reversing a 1.67% fall from Saturday, Bitcoin Cash ABC ended the week up 3.3% at $168.23.
A start of a day fall to an intraday low $164.89 saw Bitcoin Cash ABC steer clear of the first major support level at $163.89.
On the rise through the day, Bitcoin Cash ABC struck an intraday high $168.23 to close out the week in positive territory.
In spite of the upward momentum, Bitcoin Cash ABC fell short of $170 levels and the first major resistance level at $170.38.
At the time of writing, Bitcoin Cash ABC was up 0.49% to $169.05. An early morning dip to a low $168.31 saw Bitcoin Cash ABC hold above the first major support level at $166 before making a move. Bitcoin Cash ABC rose to a morning high $169.11 coming up short of the first major resistance level at $169.34.
For the day ahead, a hold above $167 levels through the morning would support a breakthrough the first major resistance level at $169.34. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break through to $170 levels.
Barring a broad-based crypto rally, we would expect the second major resistance level at $170.46 to limit the upside on the day.
Failure to hold above $167 levels could see Bitcoin Cash ABC test the first major support level at $166 before any recovery. Barring a broad-based sell-off, however, we would expect the support levels to be left untested on the day.
Litecoin Eyes $61 Levels
Litecoin gained just 0.17% on Sunday. Partially reversing a 1.66% fall from Saturday, Litecoin ended the week up 1.5% to $60.35.
A bearish start to the day saw Litecoin fall to an early morning intraday low $59.76 before finding support. Coming within range of the first major support level at $59.52, Litecoin recovered to an intraday high $60.48.
Litecoin managed to break back through the 23.6% FIB of $60 while leaving the major resistance levels untested.
An early afternoon pullback saw Litecoin fall back to a low $60 before steadying to a range-bound 2nd half of the day.
At the time of writing, Litecoin was up 0.43 to $60.61. A choppy start to the day saw Litecoin fall to an early morning low $59.9 before making a move. Finding support at the first major support level at $59.91, Litecoin struck a morning high $60.83. Litecoin broke through the 23.6% FIB of $60 and the first major resistance level at $60.63 before easing back.
For the day ahead, a hold above $60.20 levels would support another run at the second major resistance level at $60.92. Support from the broader market would be needed, however, for Litecoin to break through to $61 levels. Barring a broad-based crypto rally, we would expect Litecoin to fall short of the third major resistance level at $61.64.
Failure to hold above $60.20 levels could see Litecoin call retest the first major support level at $59.91. Barring a broad-based sell-off, however, we would expect sub-$59 levels to be avoided.
Ripple Joins the Pack
Ripple’s XRP fell by 0.65% on Sunday. Partially reversing a 0.93% gain from Saturday, Ripple’s XRP ended the week up 0.73% to $0.31398.
A bearish start to the day saw Ripple’s XRP fall from an intraday high $0.31647 to an early intraday low $0.31096.
Ripple’s XRP recovered some of the morning losses to end the week in the green. While falling short of the major resistance levels, Ripple’s XRP also managed to avoid sub-$0.31 levels.
At the time of writing, Ripple’s XRP was up 0.45% to $0.3154. Tracking the pack, Ripple’s XRP fell to a morning low $0.31223 before finding support. Steering clear of the first major support level at $0.3111, Ripple’s XRP rose to a morning high $0.31564. The day’s major resistance levels were also left untested early on.
For the day ahead, a hold above $0.3140 levels would support another run at the first major resistance level at $0.3166. A broad-based crypto rally would be needed, however, to bring $0.32 levels into play. Barring a broad-based rally, we would expect the second major resistance level at $0.3193 to be left untested.
Failure to hold above $0.3140 levels could see Ripple’s XRP hit reverse again. A fall through the morning low $0.31223 would bring the first major support level at $0.3111 back into play. Barring a crypto meltdown, however, we would expect sub-$0.31 levels to be avoided.
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This article was originally posted on FX Empire
