Bitcoin Cash – ABC – Continues to Slide
Bitcoin Cash ABC slid by 4.8% on Thursday. Following on from a 0.36% decline on Wednesday, Bitcoin Cash ABC ended the day at $214.71.
A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $222.2 before recovering to $225 levels.
Bitcoin Cash ABC steered clear of the major support and resistance levels ahead of an afternoon broad-based crypto sell-off.
The sell-off saw Bitcoin Cash ABC slide to a late afternoon intraday low and new swing lo $203. Bitcoin Cash ABC fell through the first major support level at $218.33 and second major support level at $208.85.
Finding support late in the day, Bitcoin Cash ABC broke back through the second major support level to visit $215 levels before easing back.
At the time of writing, Bitcoin Cash ABC was down by 1.26% to $212.0. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $213.47 to a low $212.0.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $214.5 levels would support a run at $220 levels later in the day.
Bitcoin Cash ABC would need the support of the broader market, however, to test the first major resistance level at $225.83.
In the event of a broad-based crypto rebound, the first major resistance level and Thursday’s high $225.54 would likely limit any upside.
Failure to move through to $214.5 levels would see Bitcoin Cash ABC spend an 8th consecutive day in the red.
A fall through to sub-$210 levels would bring the first major support level at $203.29 into play.
Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $191.88.
Litecoin Falls Deeper into the Red
Litecoin fell by 4.03% on Thursday. Reversing a 3.68% rally from Wednesday, Litecoin ended the day at $55.21.
A bearish start to the day saw Litecoin fall from an early morning intraday high $57.63 to an early morning low $55.84.
Steering clear of the major support and resistance levels, Litecoin recovered to $57 levels before the afternoon sell-off.
The sell-off saw Litecoin slide to a late afternoon intraday low and new swing lo $50.25.
Litecoin fell through the first major support level at $54.19 and second major support level at $50.85.
Finding support at $50, Litecoin broke back through the major support levels to limit the downside on the day.
At the time of writing, Litecoin was down by 1.59% to $54.33. A bearish start to the day saw Litecoin fall from an early morning high $55.45 to a low $54.18.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $55 levels would support a run at the first major resistance level at $58.48.
Litecoin would need the support of the broader market, however, to break out from this morning’s high $55.45.
Barring a broad-based crypto rally, Thursday’s high $57.63 would likely cap any upside on the day.
Failure to move back through to $55 levels could see Litecoin test the first major support level at $51.1 before any recovery.
Barring a crypto meltdown, Litecoin should steer clear of sub-$50 support levels on the day.
Ripple’s XRP back at sub-$0.24
Ripple’s XRP fell by 1.36% on Thursday. Partially reversing a 2.75% rally from Wednesday, Ripple’s XRP ended the day at $0.24364.
Bearish early on, Ripple’s XRP fell to an early morning low $0.24142 before striking a late morning intraday high $0.25073.
Ripple’s XRP left the major support and resistance levels untested ahead of the afternoon crypto meltdown.
The meltdown saw Ripple’s XRP slide to a late afternoon intraday low $0.22892 before finding support.
Ripple’s XRP fell through the first major support level at $0.2359 to visit $0.22 levels before finding support from the broader market.
The support from the broader market led Ripple’s XRP back through to $0.24 levels late in the day.
At the time of writing, Ripple’s XRP was down by 1.21% to $0.24070. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.24474 to a low $0.23785 before finding support.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2450 levels would support a run at the first major resistance level at $0.2533.
Ripple’s XRP would need the support of the broader market, however, to break through to $0.25 levels.
Barring a crypto rebound later in the day, we would expect Ripple’s XRP to come up short of Thursday’s high $0.25073.
Failure to move through to $0.2450 levels could see Ripple’s XRP fall further back into the red.
A fall back through to $0.23 levels would bring the first major support level at $0.2315 into play.
Barring another crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2193.
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Thanks, Bob
This article was originally posted on FX Empire
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