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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/06/19

By:
Bob Mason
Published: Jun 26, 2019, 05:15 UTC

Litecoin trails the pack early as Bitcoin's return to $12,000 levels spurs the majors into action early on. It could get choppy...

Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – on the Move

Bitcoin Cash ABC slipped by 0.63% on Tuesday. Partially reversing a 1.52% gain from Monday, Bitcoin Cash ABC ended the day at $474.23.

A bullish start to the day saw Bitcoin Cash ABC rise to an early intraday high $483.00 before hitting reverse.

Bitcoin Cash ABC came up against the first major resistance level at $482.74 before hitting reverse.

Bearish through the remainder of the morning, Bitcoin Cash ABC slid to a mid-day intraday low $461.08. The reversal saw Bitcoin Cash ABC fall through the first major support level at $466.27 before recovering to $467 levels.

At the time of writing, Bitcoin Cash ABC was up by 2.05% to $483.93. A particularly bullish start to the day saw Bitcoin Cash ABC rally from a morning low $462.00 to a high $495.00 before easing back.

Finding support at the first major support level at $462.54, Bitcoin Cash ABC broke through the first major resistance level at $484.46 and second major resistance level at $494.69.

For the day ahead, a hold above the first major resistance level at $484.46 would support another run at the second major resistance level at $494.69.

Bitcoin Cash ABC would need support from the broader market, however, to take a run at $500 levels.

Failure to hold above the first major resistance level could see Bitcoin Cash ABC hit reverse. A fall through to sub-480 levels would bring $460 levels back into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the first major support level at $462.54.

BCHABC/USD 26/06/19 Daily Chart

Litecoin Struggles On

Litecoin rose by just 0.13% on Tuesday. Partially reversing a 1.02% fall from Monday, Litecoin ended the day at $135.55.

A bullish start to the day saw Litecoin rise to an early morning high $136.8 before hitting reverse.

Tracking the broader market, Litecoin slid to a mid-day intraday low $129.00. Litecoin fell through the first major support level at $132.71 and second major support level at $130.15.

Finding support in the afternoon, Litecoin managed to recover to $133 levels ahead of a late rally to an intraday high $138.33. Litecoin broke through the first major resistance level at $137.24 before easing back to $135 levels.

At the time of writing, Litecoin was down by 0.3% to $135.15. A mixed start to the day saw Litecoin fall to a morning low $133.62 before striking a high $137.37.

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

For the day ahead, a hold onto $135 levels through the morning would support a recovery of the early losses. A move through to $137 levels would support a run at the first major resistance level at $139.59.

Failure to hold onto $135 levels through the morning could see Litecoin fall deeper into the red. A pullback through the morning low $133.62 would bring the first major support level at $130.26 into play.

Barring a broad-based crypto sell-off, Litecoin should steer clear of Tuesday’s low $129.00.

LTC/USD 26/06/19 Daily Chart

Ripple’s XRP in Recovery

Ripple’s XRP fell by 1.81% on Tuesday. Reversing a 0.76% gain from Monday, Ripple’s XRP ended the day at $0.46567.

Bearish through the morning, Ripple’s XRP fell from an early intraday high $0.47778 to a mid-day low $0.45461 before finding support.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.4567. A brief recovery to $0.47 levels was short-lived, with Ripple’s XRP sliding to a late intraday low $0.45215.

Ripple’s XRP fell back through the first major support level at $0.4567 before recovering to $0.46 levels.

At the time of writing, Ripple’s XRP was up by 2.22% to $0.47601. A mixed start to the day saw Ripple’s XRP fall to a morning low $0.45872 before making a move.

Steering clear of the major support levels, Ripple’s XRP rallied to a morning high $0.48097. The early rally saw Ripple’s XRP break through the first major resistance level at $0.4783.

For the day ahead, a move back through the first major resistance level at $0.4783 would support a run at the second major resistance level at $0.4908.

Ripple’s XRP would need support from the broader market, however, to break out from $0.48 levels.

Failure to move back through the first major resistance level could see Ripple’s XRP give up the morning gains.

A fall through $0.4650 levels would bring the first major support level at $0.4526 into play before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.45 support levels on the day.

XRP/USD 26/06/19 Daily Chart

Please let us know what you think in the comments below

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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