Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/08/19

Bitcoin Cash – ABC – on the Defensive

Bitcoin Cash ABC fell by 2.18% on Saturday. Reversing most of a 2.7% gain from Friday, Bitcoin Cash ABC ended the day at $307.61.

A bullish start to the day saw Bitcoin Cash ABC rise to an intraday high $316.98 before hitting reverse.

Falling short of the first major resistance level at $319.50, Bitcoin Cash ABC slid to a mid-day intraday low $299.04.

Bitcoin Cash ABC slid through the first major support level at $311.71 and second major support level at $305.29.

A choppy afternoon saw Bitcoin Cash ABC fall back through the second major support level after a return to $307 levels.

Support in the final hour, however, limited the downside for the day.

At the time of writing, Bitcoin Cash ABC was down by 1.3% to $303.6. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $305.08 to a low $303.6.

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

For the day ahead, a move through to $308 levels would support a run at the first major resistance level at $316.71. Bitcoin Cash ABC would need the support of the broader market, however, to break out from $310 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $316.98 would likely leave Bitcoin Cash ABC short of $320 levels.

Failure to move through to $308 levels could see Bitcoin Cash ABC spend another day in the red. A fall through Saturday’s low $299.04 would bring the first major support level at $298.77 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $289.94.

Litecoin Finds Support

Litecoin fell by 2.76% on Saturday. Reversing ay 2.95% rise from Friday, Litecoin ended the day at $73.4.

A particularly bearish start to the day saw Litecoin fall from an early morning intraday high $75.6 to a late morning intraday low $71.59.

Falling short of the first major resistance level at $76.89, Litecoin fell through the first major support level at $73.29.

Holding above the second major support level at $71.09, Litecoin bounced back to $74 levels late on before a pullback to wrap up the day at $73 levels.

At the time of writing, Litecoin was down by 0.37% to $73.13. A bearish start to the day saw Litecoin fall from an early morning high $73.61 to a low $72.85.

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

For the day ahead, a move back through to $73.6 levels would support a run at the first major resistance level at $75.47.

Litecoin would need the support of the broader market, however, to break out from $74 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $75.6 would likely limit any upside.

Failure to move back through to $73.6 levels could see Litecoin fall deeper into the red. A slide back through the morning low would bring the first major support level at $71.46 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of the 62% FIB of $70 and second major support level at $69.52.

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