Bitcoin Cash – ABC – Touches a new 2019 High
Bitcoin Cash ABC rose by 1.9% on Wednesday. Reversing a 0.63% fall from Tuesday, Bitcoin Cash ABC ended the day at $483.93.
Bullish through much of the day, Bitcoin Cash ABC rallied from a morning low $462 to a late intraday high $516.
Bitcoin Cash ABC tested the first major support level at $462.54 before breaking through the first major resistance level at $484.46 and second major resistance level at $484.46.
The third major resistance level at $516.61 capped the upside before a late sell-off that saw Bitcoin Cash ABC slide to an intraday low $450.0.
Bitcoin Cash ABC fell back through the first major support level to test the second major support level at $450.85 before recovering.
At the time of writing, Bitcoin Cash ABC was down by 2.52% to $471.75. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $486.35 before falling to a low $467.37.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through to $483 levels would signal a recovery of the morning losses.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $486.35.
Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely come up short of the first major resistance level at $516.62.
Failure to move back through to $483 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through to $463 levels would bring the first major support level at $450.62 into play.
Litecoin Stumbles
Litecoin slid by 3.6% on Wednesday. Reversing a 0.13% rise from Tuesday, Litecoin ended the day at $130.64.
A mixed start to the day saw Litecoin fall to a mid-morning low $133.1 before striking a mid-day intraday high $138.21.
Falling short of the first major resistance level at $139.59, Litecoin slid to a late intraday low $122.46.
The reversal saw Litecoin fall through the first major support level at $130.26 and second major support level at $124.96.
Finding support from the broader market, Litecoin managed to recover to $130 levels late on.
At the time of writing, Litecoin was down by 1.89% to $128.17. A mixed start to the day saw Litecoin rise to a morning high $132.11 before sliding to a low $127.45.
Litecoin left the major support and resistance levels untested in the early hours.
For the day ahead, a move back through to $130 levels would be needed for Litecoin to take a run at the first major resistance level at $138.41
Barring a crypto rebound, Litecoin will likely continue to come up short of $140 levels. Wednesday’s high and the first major resistance level should cap any upside in the event of a rebound.
Failure to move back through to $130 levels could see Litecoin struggle on the day. A fall back through the morning low to $125 levels would bring the first major support level at $122.66 into play.
Ripple’s XRP Loses Ground
Ripple’s XRP fell by 1.27% on Wednesday. Following on from a 1.81% decline on Tuesday, Ripple’s XRP ended the day at $0.45935.
A bullish start to the day saw Ripple’s XRP rally from an early intraday low $0.45872 to a late afternoon intraday high $0.49342.
The rally saw Ripple’s XRP broke through the first major resistance level at $0.4783 and second major resistance level at $0.4908.
A late broad-based crypto sell-off did the damage, however, with Ripple’s XRP sliding to an intraday low $0.44374.
The reversal saw Ripple’s XRP fall through the first major support level at $0.4526 before recovering to $0.45 levels.
At the time of writing, Ripple’s XRP was down by 2.04% to $0.4500. A bearish start to the day saw Ripple’s XRP fall from a morning high $0.46433 to a low $0.44959.
In spite of the early pullback, Ripple’s XRP steered clear of the first major support level at $0.4376.
For the day ahead, a move back through to $0.4650 levels would support a run at $0.48 levels.
Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.4873.
Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of Wednesday’s high $0.49342.
Failure to move back through to $0.4873 could see Ripple’s XRP take another hit later in the day.
A pullback through to $0.44500 levels would bring the first major support level at $0.4376 into play.
Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.43 support levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
This article was originally posted on FX Empire
More From FXEMPIRE:
- E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – June 27, 2019 Forecast
- Gold Price Futures (GC) Technical Analysis – Nearest Downside Target is 50% Level at $1383.30
- Grains go profit taking; Coffee up to 2019 highs, sugar rallies amid monsoon rains
- Gold Extends Decline and Tests the 1.400 Level Amid China-US Trade Truce Talks
- Forex Daily Recap – Fiber Formed Symmetrical Triangle Pattern
- EUR/AUD Fresh Sellers are Waiting Within the POC Zone
