Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC rose by 2.49% on Thursday. Reversing a 1.40% fall from Wednesday, Bitcoin Cash ABC ended the day at $212.21.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $205.57 before finding support.

Steering clear of the first major support level at $201.19, Bitcoin Cash ABC rallied to a mid-afternoon intraday high $213.80.

In spite of the bounce, Bitcoin Cash ABC came up short of the first major resistance level at $215.86, leading to a slide back to sub-$210 levels.

Late support from the broader market led to a return to $212 levels, however, and a solid gain for the day.

At the time of writing, Bitcoin Cash ABC was up by 0.64% to $213.56. A mixed start to the day saw Bitcoin Cash ABC fall to an early low $210.99 before striking a high $213.56.

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

For the day ahead, a move through to $214 would support a run at the first major resistance level at $215.48.

Bitcoin Cash ABC would need support from the broader market, however, to break out from Thursday’s high $213.8.

Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely come up short of the second major resistance level at $218.76.

Failure to move through to $214 levels could see Bitcoin Cash ABC hit reverse. A fall back through the morning low to sub-$210.50 levels would bring the first major support level at $207.25 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $202.30.

Litecoin

Litecoin rose by 0.31% on Thursday. Reversing a 0.36% fall from Wednesday, Litecoin ended the day at $44.84.

Tracking the broader market, Litecoin slid to an early morning intraday low $43.72 before making a move.

Steering clear of the first major support level at $43.21, Litecoin struck a mid-day intraday high $45.22.

Falling short of the first major resistance level at $46.67, Litecoin slid back to an afternoon low $44.02 and into the red.

Litecoin found late support from the broader market, however, to close out the day in the green.

At the time of writing, Litecoin was up by 0.11% to $44.89. A mixed start to the day saw Litecoin fall to an early morning low $44.51 before rising to a high $44.97.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move back through the morning high would support a run at the first major resistance level at $45.47.

Litecoin would need the support of the broader market, however, to break out from Thursday’s high $45.22.

Barring a broad-based crypto rally, Litecoin would likely fall short of $46 levels for a 2nd consecutive day.

Failure to move back through the morning high could see Litecoin come under pressure. A fall back through to sub-$44.60 levels would bring the first major support level at $43.97 into play.

Barring a crypto meltdown, Litecoin should continue to steer clear of sub-$42 levels. The second major support level at $43.09 should limit any downside.

Ripple’s XRP

Ripple’s XRP rallied by 3.53% on Thursday. Reversing a 2.52% slide from Wednesday, Ripple’s XRP ended the day at $0.22289.

A choppy start to the day saw fall to an early morning intraday low $0.21278 before finding support.

Steering well clear of the first major support level at $0.2084, Ripple’s XRP rallied to a late intraday high $0.22722.

Ripple’s XRP broke through the first major resistance level at $0.2247 before easing back to sub-$0.2240 levels.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.22462. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22251 to a high $0.22519.

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

For the day ahead, a move through to $0.2260 levels would support a run at the first major resistance level at $0.2291.

Support from the broader market would be needed, however, for a breakout from Thursday’s high $0.22722.

Barring an extended rally on the day, the first major resistance level would likely leave Ripple’s XRP short of $0.23 levels.

Failure to move through to $0.2260 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.22251 would bring the first major support level at $0.2147 into play before any recovery.

Barring a crypto meltdown, however, Ripple’s XRP should continue to steer clear of sub-$0.21 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

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