Bitcoin Cash – ABC – On the Rebound
Bitcoin Cash ABC slipped 9.03% on Monday, after falling 17.71% last week, to close the day at $ 147.46.
Bearish for the last day of the year, Bitcoin Cash ABC has slipped from an intraday day of $ 162.09 to an intraday low of $ 145.6 before settling.
The reversal saw the ABC Cash Bitcoin slip through the first major support level at $ 156.95 and the second main support level at $ 152.76, maintaining above the third support level at $ 144, 78, the sell-off deriving from the negative feedback coming from the broader market.
At the time of writing, Bitcoin Cash ABC rose from 8.94% to $ 160.64, with early morning moves seeing the rise of Bitcoin Cash ABC from the start of a day's low $ 148 to reach a maximum of $ 164.90 in the morning before going back.
The early rebound of Bitcoin Cash ABC surpassed the first major resistance level to $ 157.83 and 38.2% FIB retracement level of $ 163 before rebounding through 38.2% of FIB.
For the next day, a holding above the first resistance level at $ 157.83 until the morning would have supported another run at $ 160 and 38.2% at FIB, while sentiment in the broader market he would have to improve for the second level of resistance at $ 168.21 to come into play.
Failure to hold above the first major resistance level at $ 157.83 could see Bitcoin Cash ABC slip at a low of $ 148 in the morning to bring the first major support level to $ 141.34 in play before any recovery, levels below $ 140 should not come into play.
Litecoin in the Red
Litecoin fell 5.64% on Monday, reversing a 3.07% rise on Sunday to close the day at $ 29.78.
By monitoring the broader market, Litecoin fell from an intraday day of $ 31.62 at a low intraday end of day to $ 29.42 before settling, with Litecoin ending at levels below $ 30 for 2ND time in the last 12 days.
The reversal saw Litecoin slip through the first major support level at $ 30.36 to re-enter the range of the second main support level at $ 29.15 before finding support.
At the time of writing, Litecoin was up 0.44% to $ 29.91, with Litecoin down from $ 29.99 to a morning low of $ 29.11 before finding support, the first moves that made it not tested the highest levels of support and resistance of the day.
For the day ahead, a move up to $ 30.3 would support a $ 31 level run to bring the first resistance level higher to $ 31.13 before any pullbacks, $ 31.62 $ high on Monday for bring Litecoin back from a breakout to $ 32 levels later in the day.
Failure to move to $ 30.3 levels by early afternoon could see Litecoin going upside down, with a pullback of as low as $ 29.11 taking the first major support level to $ 28.93 and the second level of support at $ 28.07 in play before any recovery, $ 28 unlikely levels to touch the day.
Ripple trying to make a move
Ripple's XRP fell 5.51% on Monday, reversing the 1.84% gain on Sunday with interest, to close the day at $ 0.36131.
An intraday day start of $ 0.38961 saw Ripple's XRP break through the first resistance level at $ 0.3871 before hitting the reverse, a one-day reversal to see the Ripple's XRP slide at the end of the day intraday at $ 0.35616 before returning to $ 0.36 levels.
The reversal saw Ripple's XRP fall through the first major support level at $ 0.3730 and the second main support level at $ 0.3637, with Ripple's XRP not manages to break support levels by the end of the day.
At the time of writing, Ripple's XRP rose 0.94% to $ 0.36470, with the moves that saw Ripple's XRP recover from a morning low of $ 0.35778 to reach a maximum of $ 0.36718 in the morning before slowing down, the main support and resistance levels of the day were not tested early.
For the next day, a return to levels of $ 0.36718 to $ 0.37 would have supported a run of $ 0.38 levels to bring the first resistance level higher to $ 0.3819, XRP of Ripple will probably continue not to exceed $ 0.40, with the maximum of Monday $ 0.38961 probably to nail the XRP of Ripple from a breakout during the day.
Failure to move to $ 0.37 levels by early afternoon could see Ripple's XRP surge fall below the $ 0.35778 minimum to claim support for the first level of primary support at $ 0, 3484 before any recovery, under $ 0.34 unlikely support levels to be tested on the day.
