Bitcoin Cash – ABC – Finds Support
Bitcoin Cash ABC rose by 2.19% on Saturday. Following on from a 3.69% gain on Friday, Bitcoin Cash ABC ended the day at $440.28.
A particularly bearish start to the day saw Bitcoin Cash ABC slide to an early morning intraday low $412.62.
Whilst steering clear of the first major support level at $406.36, Bitcoin Cash ABC fell through the 23.6% FIB of $418.
Finding support from the broader market, Bitcoin Cash ABC bounced back to a late intraday high $441.02. While breaking back through the 23.6% FIB, Bitcoin Cash ABC came up short of the first major resistance level at $445.63.
At the time of writing, Bitcoin Cash ABC was up by 0.66% to $443.18. Moves through the early morning saw Bitcoin Cash ABC rise to a morning high $446.9 before easing back to a low $440.22.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a hold onto $440 levels would support a run at the first major resistance level at $449.99.
Bitcoin Cash ABC would need support from the broader market, however, to break out from the morning high $446.9.
In the event of a crypto rally, the second major resistance level at $459.71 could come into play before any pullback.
Failure to hold onto $440 levels could see Bitcoin Cash ABC take a hit on the day. A fall through to sub-$431 levels would bring the first major support level at $421.59 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$420 levels. In the event of a sell-off, the second major support level at $402.91 should limit any downside on the day.
Litecoin Back at $130
Litecoin surged by 11.58% on Saturday. Following on from a 4.68% rally form Friday, Litecoin ended the day at $133.21.
Tracking the broader market, Litecoin fell to an early morning intraday low $115 before a late morning rebound.
While steering clear of the first major support level at $113.95, Litecoin fell through the 23.6% FIB of $117.
The rebound saw Litecoin break through the first major resistance level at $123.4 and second major resistance level at $127.32 to strike a late intraday high $136.5.
At the time of writing, Litecoin was down by 1.13% to $131.70. A bearish start to the day saw Litecoin slide from a morning high $134.68 to a low $130.5 before finding support.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a hold onto $130 levels through the morning would support a run on Saturday’s high $136.5.
Litecoin would need support from the broader market to break out from $136 levels. Barring a broad-based crypto rally, Litecoin would likely fall short of the first major resistance level at $141.47.
Failure to hold onto $130 levels could see Litecoin struggle through the day. A fall through to $127 levels would bring the first major support level at $119.97 into play.
Barring a crypto meltdown, Litecoin should steer clear of sub-$110 support levels.
Ripple’s XRP Steadies
Ripple’s XRP rose by 0.64% on Saturday. Following on from a 4.36% gain from Friday, Ripple’s XRP ended the day at $0.42611.
An early sell-off saw Ripple’s XRP slide to an intraday low $0.4010 before finding support.
The reversal saw Ripple’s XRP fall through the 23.6% FIB of $0.4164 and the first major support level at $0.4054.
Recovering through the rest of the day, Ripple’s XRP moved back through the 23.6% FIB to strike a late intraday high $0.42943.
In spite of the rebound, Ripple’s XRP came up short of the first major resistance level at $0.4351 on the day.
At the time of writing, Ripple’s XRP was down by 0.05% to $0.42589. A relatively range-bound start to the day saw Ripple’s XRP fall from a morning high $0.42870 to a low $0.42387.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high $0.4287 would support a run at $0.43 levels.
Ripple’s XRP would need the support of the broader market, however, to take a run at the first major resistance level at $0.4367.
Barring a broad-based crypto rally, Saturday’s high $0.42943 would likely cap any upside on the day.
Failure to move back through the morning high $0.42870 could see Ripple’s XRP fall deeper into the red.
A fall through the 23.6% FIB of $0.4164 would bring the first major support level at $0.4083 into play.
Barring a crypto meltdown, Ripple’s XRP should likely steer clear of sub-$0.40 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
