Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/06/19

Bob Mason

Fri, Jun 28, 2019, 8:47 PM

Bitcoin Cash – ABC – On the Slide Again

Bitcoin Cash ABC rose by 3.69% on Friday. Partially reversing a 14.9% tumble from Thursday, Bitcoin Cash ABC ended the day at $430.0.

A choppy start to the day saw Bitcoin Cash ABC fall to an early intraday low $398.35 before hitting a late morning intraday high $437.62.

While leaving the major support and resistance levels untested, Bitcoin Cash ABC broke back through the 23.6% FIB of $418.

Bitcoin Cash ABC fell back to $412 levels before moving back through the 23.6% FIB to a range-bound afternoon.

At the time of writing, Bitcoin Cash ABC was down by 3.55% to $414.72. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $433.76 to a low $414.72.

While Bitcoin Cash ABC left the major support and resistance levels untested, Bitcoin Cash ABC fell back through the 23.6% FIB of $418.

For the day ahead, a move back through the 23.6% FIB to $422 levels would support a run at $430 levels later in the day.

Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $445.63.

Barring a crypto rally, Bitcoin Cash ABC would likely fall well short of Friday’s high $437.62.

Failure to move back through the 23.6% FIB could see Bitcoin Cash ABC lose more ground on the day.

A fall to sub-$410 levels would bring the first major support level at $406.36 into play. In the event of an extended sell-off, expect a visit to sub-$400…

Litecoin Avoids sub-$100

Litecoin rallied by 4.68% on Friday. Partially reversing a 12.61% slide from Thursday, Litecoin ended the day at $119.47.

A mixed start to the day saw Litecoin fall to an early morning intraday low $112.35 before finding support. Steering clear of the first major support level at $104.8, Litecoin struck a late afternoon intraday high $121.8.

Coming up short of the first major resistance level at $127.82, Litecoin slid back to sub-$120 levels late on.

At the time of writing, Litecoin was down by 2.8% to $116.2. Tracking the broader market, Litecoin slid from a morning high $119.39 to a low 115.0 before finding support.

While leaving the major support and resistance levels, Litecoin slipped back through the 23.6% FIB of $117.0.

For the day ahead, a move through the 23.6% FIB of $117 to $118 levels would support a move back to $120 levels.

Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $123.4.

Barring a broad-based crypto rally, Friday’s high $121.8 and first major resistance level would likely cap any upside on the day.

Failure to move through the 23.6% FIB to $118 levels could see Litecoin take another dive. A fall through the morning low $115.0 would bring the first major support level at $113.95 into play.

In the event of an extended sell-off, Litecoin could test the second major support level at $108.42 before any recovery.

Ripple’s XRP Visits sub-$0.40 Again

Ripple’s XRP rose by 4.36% on Friday. Partially reversing an 11.69% slide from Thursday, Ripple’s XRP ended the day at $0.42361.

Tracking the broader market early on, Ripple’s XRP slid to an early morning intraday low $0.39866 before finding support.

While steering clear of the first major support level at $0.3762, Ripple’s XRP fell through the 23.6% FIB of $0.4164.

Ripple’s XRP recovered to $0.418 levels before a 2^nd dip. While coming up short of the major resistance levels, Ripple’s XRP moved back through the 23.6% FIB of $0.4164.

Following a brief pullback to $0.40 levels, Ripple’s XRP rallied to a late intraday high $0.42831. While falling short of the first major resistance level at $0.4495, Ripple’s XRP broke back through the 23.6% FIB.

At the time of writing, Ripple’s XRP was down by 4.24% to $0.40567. A particularly bearish start to the day saw Ripple’s XRP fall from a morning high $0.42343 to a low $0.40306.

Ripple’s XRP fell through the 23.6% FIB of $0.4164 and first major support level at $0.4054 before finding support.

For the day ahead, a move back through the 23.6% FIB would support a rebound later in the day.

Ripple’s XRP would need to move through to $0.4280 levels, however, to take a run at the first major resistance level at $0.4351.

Barring a broad-based crypto rebound, the 23.6% FIB would likely pin back any run at $0.42 levels.

Failure to move back through the 23.6% FIB could see Ripple’s XRP fall deeper into the red. A return to sub-$0.40 levels would bring the second major support level at $0.3872 into play before any recovery.