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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/04/19

Bob Mason

Bitcoin Cash – ABC – Finds Early Support

Bitcoin Cash ABC tumbled by 6.78% on Monday. Following on from a 4.07% slide on Sunday, Bitcoin Cash ABC ended the day at $231.05.

A relatively range-bound start to the day saw Bitcoin Cash ABC rise to an early intraday high $248.9 before hitting reverse.

Tracking the broader market, Bitcoin Cash ABC tumbled to an early afternoon low $230.14 before finding support. The pullback saw Bitcoin Cash ABC fall through the first major support level at $240.27 and second major support level at $232.21.

A recovery to $240 levels was brief, with Bitcoin Cash ABC sliding to a late intraday low $228.0 before recovering to $230 levels.

At the time of writing, Bitcoin Cash ABC was up by 2.02% to $235.73. A bullish start to the day saw Bitcoin Cash ABC rise from a morning low $234.8 to a high $240.25 before easing back.

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

For the day ahead, a hold onto $235 levels would support a move back through to $240 levels. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break through the first major resistance level at $243.97.

Barring a crypto rebound, Bitcoin Cash ABC would likely fall short of $250 levels for a 2nd consecutive day.

Failure to hold onto $235 levels could see Bitcoin Cash ABC hit reverse. A fall through to $234 levels would bring sub-$230 levels into play. Barring a crypto meltdown, however, Bitcoin Cash ABC will likely steer clear of the first major support level at $223.07.

Litecoin Eyeing $70

Litecoin fell by 1.76% on Monday. Following on from a 3.93% slide from Sunday, Litecoin ended the day at $66.55.

A bullish start to the day saw Litecoin rise to an early morning intraday high $68.36 before hitting reverse. Falling short of the first major resistance level at $70.15, Litecoin tumbled to an early afternoon intraday low $64.86.

The pullback saw Litecoin fall through the first major support level at $66.09 before finding support.

Relatively range-bound through the afternoon, Litecoin recovered from a dip to $65.33 to end the day at $66 levels.

At the time of writing, Litecoin was up by 2.01% to $67.89. A particularly bullish start to the day saw Litecoin rally from a morning low $66.55 to a high $69.00 before easing back.

Litecoin broke through the first major resistance level at $68.32 in the early rally.

For the day ahead, a hold onto $67 levels through the morning would support another run at $70 levels later in the day.

Support from the broader market would be needed, however, for Litecoin to breakout from the first major resistance level at $68.32.

Barring a crypto rally, the second major resistance level at $70.09 would likely cap the upside on the day.

Failure to hold onto $67 levels could see Litecoin hit reverse. A fall through to $66.5 levels would bring $65 levels into play before any recovery.

Barring another crypto meltdown, Litecoin would likely steer clear of the first major support level at $64.82 on the day.

Ripple Struggling at $0.30

Ripple’s XRP fell by 0.74% on Monday. Partially reversing a 1.32% gain from Sunday, Ripple’s XRP ended the day at $0.30712.

A bullish morning saw Ripple’s XRP strike a mid-morning intraday high $0.31257 before hitting reverse.

Falling shy of the first major resistance level at $0.3143, Ripple’s XRP tumbled to an early afternoon intraday low $0.29893.

The reversal saw Ripple’s XRP slide through the first major support level at $0.3044 to test the second major support level at $0.2992.

Bucking the trend from across the broader market, Ripple’s XRP rallied back into positive territory through the afternoon.

At the time of writing, Ripple’s XRP was up by 0.22% to $0.30779. A relatively range-bound start to the day saw Ripple’s XRP rise from a morning low $0.30575 to a high $0.30895 before easing back.

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

For the day ahead, a hold onto $0.3070 levels through the morning would support a run at $0.31 levels.

Ripple’s XRP would need support from the broader market, however, to break through the first major resistance level at $0.3135.

Barring a broad-based crypto rally, Ripple’s XRP would likely continue to come up short of $0.32 levels on the day.

Failure to hold onto $0.3070 levels could see Ripple’s XRP hit reverse later in the day. A fall through the morning low $0.30575 would bring the first major support level at $0.2998 into play.

Barring a broad-based sell-off, Ripple’s XRP would likely steer clear of the second major support level at $0.2926.

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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