Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/01/19

Bitcoin Cash – ABC – in the Red

Bitcoin Cash ABC fell by 6.54% on Sunday, reversing a 2.49% gain from Saturday, to end the week down 24.7% at $124.43.

An early morning intraday high $134.00 came up short of the first major resistance level at $136.33 before hitting reverse

Reversing through the late morning and early afternoon, Bitcoin Cash ABC slid through the first major support level at $129.28 and second major support level at $125.86 to hit an intraday low and new swing lo $121.48.

Bitcoin Cash ABC managed to find support late in the day to avoid sub-$120 levels, but was unable to move back through the second major support level, ending the day at its lowest level since 18th December’s $103.65.

At the time of writing, Bitcoin Cash ABC was down 0.22% to $124.16. Moves through the early hours saw Bitcoin Cash ABC rise to a morning high $125.2 before easing back to a morning low $123.5.

For the day ahead, a move back through the morning high $125.2 to $126.7 levels would support a run at $130 levels to bring the first major resistance level at $131.79 into play before any pullback. Support from the broader market would be needed for Bitcoin Cash ABC to hold onto $130 levels in the event of an afternoon recovery.

Failure to move through to $126.7 levels could see Bitcoin Cash ABC fall back deeper into the red. A pullback through the morning low $123.5 will bring Sunday’s low $121.48 and the first major support level at $119.27 into play before any recovery. Heavier losses are not expected on the day, unless there is another broad based crypto sell-off.

Litecoin on the Rise

Litecoin slid by 6.62% on Sunday, reversing a 0.82% gain from Saturday, to end the week down 23.1% at $29.92.

A bullish start to the day saw Litecoin break through the first major resistance level at $32.60 to strike an intraday high $32.88 before getting hit by a broad based crypto sell-off.

The reversal saw Litecoin slide to a late intraday low $29.51. Litecoin fell through the first major support level at $31.49 and second major support level at $30.94 to call on support at the third major support level at $29.83 before moving back to $29.9 levels.

At the time of writing, Litecoin was up 1.14% to $30.26, a morning low $29.8 and high $30.26 leaving the major support and resistance levels untested early on.

For the day ahead, a move through to $30.80 levels would support a run at $31 levels to bring the first major resistance level at $32.03 into play. Sunday’s high $32.88 will likely pin Litecoin back from a breakout to $33 levels on the day.

Failure to move through to $30.80 levels by the early afternoon could see Litecoin hit reverse later in the day. A pullback through the morning low $29.80 to Sunday’s low $29.51 could see Litecoin fall to sub-$29 levels to call on support at the first major support level at $28.66 before any recovery.

Ripple Finds Support

Ripple’s XRP fell by 4.13% on Sunday, following on from a 0.09% fall on Saturday, to end the week down 14.6% at $0.32183.

A bullish start to the day saw Ripple’s XRP strike an early intraday high $0.3410 to come against the first major resistance level at $0.3404 before hitting reverse.

Ripple’s XRP tumbled to a late afternoon intraday low $0.31819 before recovering to $0.32 levels.

The reversal saw Ripple’s XRP slide through the first major support level at $0.3316 and second major support level at $0.3275 to call on support at the third major support level at $0.3187.

At the time of writing, Ripple’s XRP was up 1.76% to $0.32751. Moves through the early morning saw Ripple’s XRP rise from a morning low $0.32121 to a morning high $0.32922 before easing back, the day’s major support and resistance levels left untested early on.

For the day ahead, a hold onto $0.3270 levels through the morning would support a move through the morning high $0.32922 to $0.33 levels. An early run at the first major resistance level at $0.3358 could see Ripple’s XRP attempt a move through to $0.34 levels later in the day, support from the broader market needed to hit Sunday’s high $0.341.

Failure to hold onto $0.327 levels could see Ripple’s XRP fall through the morning low $0.32121 to bring $0.31 levels and the first major support level at $0.3130 into play. Barring another crypto sell-off, sub-$0.31 support levels are unlikely to be tested on the day.

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This article was originally posted on FX Empire

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