Yahoo Finance Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/03/19
Bitcoin Cash – ABC – Hits $131s
Bitcoin Cash ABC gained 1.21% on Friday. Reversing a 0.47% loss from Thursday, Bitcoin Cash ABC ended the day at $131.0.
A relatively choppy day saw Bitcoin Cash ABC slide from a morning high $131.58 to an intraday low $128.98 before finding support.
Steering clear of the first major support level at $127.87, Bitcoin Cash ABC bounced back to a late intraday high $132.31. The first major resistance level at $132.19 pinned back more material gains, before easing back to $131 levels.
At the time of writing, Bitcoin Cash ABC was down by 0.42% to $130.45. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $132.19 before pulling back. Falling short of the first major resistance level at $132.55, Bitcoin Cash ABC fell to a morning low $130.38. The first major support level at $129.22 was left untested early on.
For the day ahead, a move back through to $130.80 levels would support another run at the first major resistance level at $132.55. Barring a broad-based rally, we would expect Bitcoin Cash ABC to come up short of $134 levels on the day. Thursday’s high $132.31 would likely pin Bitcoin Cash ABC back from a breakout from $132 levels.
Failure to move back through $130.80 could see Bitcoin Cash ABC fall deeper into the red. A fall through the morning low $130.38 would bring $129 levels into play. Barring a crypto meltdown, we would expect the first major support level at $129.22 to prevent heavier losses on the day.
Litecoin on the Move
Litecoin rallied by 3.04% on Friday. Following on from a 1.11% gain on Thursday, Litecoin ended the day at $46.81
Bullish through most of the day, Litecoin rallied from an intraday low $45.26 to an afternoon intraday high $48.7.
Steering clear of the first major support level at $44.33, Litecoin broke through the first major resistance level at $46.6 and second major resistance level at $47.76. A late pullback cut the gains on the day.
At the time of writing, Litecoin was up by 0.66% to $47.12. A mixed start to the day saw Litecoin rise to a morning high $47.49 before falling to a morning low $46.74. The moves left the day’s major support and resistance levels untested early on.
For the day ahead, a hold onto $47 levels through the morning would support a run at $48 levels and the first major resistance level at $48.59. Barring a broad-based crypto rally, we would expect Litecoin to continue falling short of $50 levels on the day. Thursday’s high $48.7 and the day’s first major resistance level would likely pin Litecoin back.
Failure to hold onto $47 levels could see Litecoin slide through the morning low $46.74 to bring $45 levels into play. Barring a broad-based crypto sell-off, we would expect the first major support level at $45.15 to prevent a slide to $44 levels on the day.
Ripple Finds Support
Ripple’s XRP rose by 0.87% on Friday. Following on from a 1.03% gain on Thursday, Ripple’s XRP ended the day at $0.3233.
Tracking the broader market through the day, Ripple’s XRP rose from an intraday low $0.31870 to an intraday high $0.33192.
Steering clear of the first major support level at $0.3174, Ripple’s XRP broke through the first major resistance level at $0.3260. The second major resistance level at $0.3313 pinned back a more material gain on the day.
A late reversal saw Ripple’s XRP slide back to $0.32 levels by the end of the day.
At the time of writing, Ripple’s XRP was down by 0.22% to $0.3226. Moves through the early hours saw Ripple’s XRP slide from a morning high $0.3252 to a low $0.32058.
The day’s major support and resistance levels were left untested early on.
For the day ahead, a move back through to $0.3250 levels would support a run back through to $0.33 levels. The day’s first major resistance level at $0.3306 will likely be in play later in the day should support kick in. Barring a broad-based crypto rally, we would expect $0.34 levels to be left untouched, however. The second major resistance level at $0.3379 would likely prevent any breakout from $0.33 levels.
Failure to move through to $0.3250 levels could see Ripple’s XRP fall deeper into the red. A fall through the morning low $0.32058 would bring the first major support level at $0.3174 into play before any recovery. Barring a crypto meltdown, we would expect sub-$0.31 levels to be avoided on the day. The second major support level at $0.3114 would likely prevent heavier losses in the event of a sell-off.
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This article was originally posted on FX Empire
