Analysis of Bitcoin Cash, Litecoin and Ripple Daily – 08/16/18

Bitcoin Cash Steady

Bitcoin Cash fell just 0.18% on Wednesday after the 3.92% drop on Tuesday to close the day at $ 509.2.

A busy day saw Bitcoin Cash maintain up to $ 500 in the morning, to support a late-afternoon rally, with Bitcoin Cash exceeding the first major resistance level at $ 537.63 at a high intraday $ 541, before to return to an intraday minimum of $ 502.7.

Avoiding the first major level of support for the day at $ 477.13 and avoiding under $ 500 a day, the positive for the crypers, while investors continue to press the sales button in advance to block any intra-day earnings .

At the time of writing, Bitcoin Cash was down 0.71% to $ 507.4, with Wednesday's late-day pullback continuing until the early hours of the morning, Bitcoin Cash dropped to $ 502 in the morning , 8 before finding support.

For the next day, a move up to $ 517 will support a run at the first resistance level of $ 532.57, with sentiment in the broader market dictating whether the second highest resistance level of the day will come into play. $ 555.93, although Bitcoin Cash will have to maintain the $ 500 levels for the rest of the morning.

Failure to hold $ 500 levels and move to $ 520 in the early afternoon could see Bitcoin Cash revisit levels below $ 500, to bring the first level of primary support into play at $ 477.13 before any recovery at $ 500 at the end of the day.

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Litecoin finds more support

Litecoin fell 0.02% Wednesday, after the slide of Tuesday of 3.72 %, to end the day at $ 54.38.

market trend, a limited series from the start of the day saw the Litecoin rally through the first main resistance level of the day at $ 54.48 at a late afternoon intraday high $ 59.44, with a resistance at $ 60 by locking Litecoin back from further material gains of the day.

A pull From as low as $ 54, Litecoin surpassed its first major support level at $ 50.32 and, above all, at $ 50 a day.

At the time of writing, Litecoin had increased by 0.5% to $ 54.71, with Litecoin easing back to a low morning $ 54.13 before finding support, it moved in the early part of the day leaving the main levels support and resistance not tested.

For the next day, a move up to $ 56 would support a run to the first major of the day resistance level at $ 57.88, although Litecoin will have to maintain the $ 54 levels until the morning to avoid a & # 39; inversion.

Failure to maintain $ 54 levels and a break at $ 56 later in the day would have supported a pullback across the morning fell from $ 54.13 to $ 53, bringing the first major level of support into play of the day at $ 52.44, although we expect Litecoin to move away from the lower levels to $ 50 and the new swing on Tuesday to $ 49.33.

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Ripple Stuck to sub- $ 0.30

Ripple's XRP gained 1.94 % Wednesday, reversing the fall of 0.33% on Tuesday, to close the day at $ 0.27911.

A solid first part of the day saw Ripple's XRP rupture the first main resistance level at $ 0.2864 and the second highest resistance level at $ 0.2989 at a late afternoon high intraday $ 0.30452 , before returning to levels below $ 0.30

While a low intraday day start $ 0.27313 held well above the first major support at $ 0.2531, the lack of support increased to $ 0 , 27 increases the prospects for another slide if Ripple's XRP fails to recover and maintain levels of $ 0.30 in the coming days.

At the time of writing, Ripple's XRP was down 0.1% to $ 0.27957, a continuation of the late Wednesday inversion that was pouring out in the early hours of the day. 39; Ripple's XRP that hit a minimum of $ 0.2749 before stabilizing, moves in the early hours leaving more support and resistance levels

For the day ahead, a move of $ 0.2856 would have claimed a $ 0.29 run to bring the first resistance level higher at $ 0.298 and $ 0.30 in play, while we expect Ripple's XRP not to reach the second highest resistance level at $ 0.317 in the day.

Failure to exceed $ 0.2856 by late morning could see the wave of XRP of Ripple overturned during the day to bring the first major support level to $ 0.2667 into play, although there we expect Ripple's XRP to hold $ 0.27 in the event of a sell-off, except for particularly negative exceptions affecting the wires.

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