Bitcoin Cash – ABC – Struggles at $230
Bitcoin Cash ABC fell by 1.2% on Tuesday. Partially reversing a 3.6% rally from Monday, Bitcoin Cash ABC ended the day at $223.31.
A bullish start to the day saw Bitcoin Cash ABC strike an early morning intraday high $235. Bitcoin Cash ABC broke through the first major resistance level at $233.25 before sliding to an early evening intraday low $219.91.
In spite of the reversal, Bitcoin Cash ABC steered clear of the first major support level at $215.19.
Finding support late in the day, Bitcoin Cash ABC recovered to $223 levels to limit the downside on the day.
At the time of writing, Bitcoin Cash ABC was up by 0.3% to $223.98. A range-bound start to the day saw Bitcoin Cash ABC rise from a morning low $223.29 to a high $223.98.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $226 levels would support a run at the first major resistance level at $232.24.
Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $230 levels.
Barring a broad-based crypto rally, Bitcoin Cash ABC will continue to come up short of $240 levels.
Failure to move through to $226 levels could see Bitcoin Cash ABC hit reverse.
A fall back through to sub-$220 levels would bring the first major support level at $217.15 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of the second major support level at $210.98.
Litecoin Back in the Red
Litecoin fell by 0.52% on Tuesday. Partially reversing a 4.06% rally from Monday, Litecoin ended the day at $55.8.
Tracking the broader market, Litecoin rallied to an early morning intraday high $57.75 before hitting reverse.
Coming up against the first major resistance level at $57.52, Litecoin slid to an early evening intraday low $54.87.
Steering clear of the first major support level at $53.58, Litecoin bounced back to $55 levels to cut the deficit on the day.
At the time of writing, Litecoin was up by 1.13% to $56.43. A bullish start to the day saw Litecoin rise from an early morning low $55.8 to a high $56.6 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, holding onto $56 levels through the morning would support a run at the first major resistance level at $57.41.
Litecoin would need sentiment across the broader market to improve, however, to support a move through to $57 levels.
Barring a broad-based crypto rally on the day, we would expect the first major resistance level and Tuesday’s high $57.75 to cap any upside.
Failure to hold onto $56 levels could see Litecoin hit reverse. A fall through the morning low $55.8 would bring the first major support level at $54.53 into play before any recovery.
Barring a crypto meltdown, Litecoin should steer clear of sub-$54 support levels on the day.
Ripple’s XRP Hits Reverse
Ripple’s XRP slid by 3.53% on Tuesday. Partially reversing a 7.08% rally from Monday, Ripple’s XRP ended the day at $0.24888.
A bullish start to the day saw Ripple’s XRP strike an early morning intraday high $0.26186 before hitting reverse.
Falling short of the first major resistance level at $0.2688, Ripple’s XRP slid to an early evening intraday low $0.24594.
Steering clear of the first major support level at $0.2420, Ripple’s XRP recovered to $0.25 levels before sliding back in the final hour.
At the time of writing, Ripple’s XRP was down by 0.47% to $0.24771. A mixed start to the day saw Ripple’s XRP strike an early morning high $0.25002 before falling to a low $0.24711.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2520 levels would bring the first major resistance level at $0.2585 into play.
Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.25002.
Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of Tuesday’s high $0.26186.
Failure to move through to $0.2520 levels could see Ripple’s XRP take a bigger hit on the day. A pullback through to $0.2450 levels would bring the first major support level at $0.2426 into play.
Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of sub-$0.23 support levels.
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Thanks, Bob
