Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/09/19

Bitcoin Cash – ABC – Sees Red

Bitcoin Cash ABC slid by 1.75% on Friday. Following on from a 0.62% decline on Thursday, Bitcoin Cash ABC ended the day at $287.96.

A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $292.54 to a mid-morning intraday high $301.3.

Bitcoin Cash ABC broke through the first major resistance level at $297.11 before hitting reverse.

The reversal saw Bitcoin Cash ABC slide to a late intraday low $279.24, falling through the first major support level at $285.72.  Bitcoin Cash ABC found support at the second major support level at $279.5 to wrap up the day at $287 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.41% to $286.78. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $288.31 to a low $286.78.

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

For the day ahead, a move through the morning high to $290 levels would support a run at the first major resistance level at $299.76.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break through to $290 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $300 levels on the day.

Failure to move through to $290 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $282 levels would bring the first major support level at $277.70 into play.

Barring another crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $267.44.

Litecoin Finds Support

Litecoin slipped by 0.43% on Friday. Following on from a 2.77% slide on Thursday, Litecoin ended the day at $64.98.

Tracking the broader market, Litcoin rallied to a late morning intraday high $68.24. The morning rally saw Litecoin break through the first major resistance level at $67.08 before hitting reverse.

Coming up short of the second major resistance level at $68.88, Litecoin slid to a late intraday low $63.87.

Finding support at the first major support level at $63.85, Litecoin bounced back to $65 levels before easing to sub-$65 at the day end.

At the time of writing, Litecoin was up by 0.09% to $65.04. A relatively range-bound start to the day saw Litecoin rise from an early morning low $64.8 to a high $65.12.

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

For the day ahead, a move through to $65.70 levels would support a run at the first major resistance level at $67.52.

Litecoin would need to move through to $66 levels by the early afternoon, however, to support a breakthrough to $67 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $68.24 would likely limit any upside.

Failure to move through to $65.70 levels could see Litecoin slide back into the red. A fall through the morning low $64.80 to $64.30 levels would bring the first major support level at $63.15 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$63 support levels on the day.

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