Bitcoin cash: the ABC sinks
Bitcoin Cash ABC fell 10.87% on Thursday, reversing the 7.17% gain on Wednesday with interest, to end the day at $ 205.00.
An intraday high early morning high of $ 233.13 arrived well below the first major resistance level at $ 243.92, with ABC BCH succumbing to a wide cryptomarket sell-off, slipping through the day until late in the day intraday low $ 205.
The reversal saw that BCH ABC outperformed its first major support level at $ 210.98 before stabilizing, with support levels below $ 200 untested.
For the ABC team, the allocation of the BCH ticker by a series of large cryptographic exchanges will be considered positive, although much of this will be obscured by the news of a lawsuit against Coinbase for insider trading, which is even worse news for Bitcoin Cash.
At the time of writing, BCH ABC fell 1.93% to $ 201.04, a bearish start on the day that BCH ABC falls from a maximum of $ 207.98 to a minimum of $ 194.77 , the inversion that saw ABC BCH the first major level of support of the day at $ 195.62 before finding support.
For the next day, a move up to $ 215 would support a $ 220 level run to bring the first major resistance level of the day to $ 223.75, although we can expect BCH ABC to face a lot of resistance at any level at $ 220 per day, which should block ABC's BCH at sub- $ 220 levels throughout the day in case of recovery.
Failure to move to levels of $ 215 could see BCH ABC retrace the first major support level at $ 195.62 and the low morning $ 194.77 to bring the $ 180 levels and the second major support level of the day to $ 186. , 25 in play before any recovery.
Litecoin Back in the Red
Litecoin fell 8.72% on Thursday, reversing the 6.26% gain on Wednesday, closing the day to $ 31.3.
An early move to a high intraday of $ 34.7 was the only bullish move of the day, Litecoin stood at the first major resistance level at $ 35.47, with a large cryptomarket that invested Litecoin in early hours.
Litecoin fell by day late at the end of the day intraday to $ 31.13, the reversal that saw Litecoin fall to the first level of main support at $ 32.09 before settling down.
At the time of writing, Litecoin was down 0.51% to $ 31.14, with a bearish start to the day when Litecoin crashed from a high morning $ 31.81 to a low early morning $ 30.33 before finding support, the moves that left the main levels of support and resistance not tested soon above.
For the day ahead, a move between the high levels of $ 31.81 to $ 32 would signal a probable afternoon rebound to bring the first major resistance level to $ 33.62 in play before any pullback, Litecoin is likely not to exceed $ 34 with the exception of a material shift in sentiment across the broader market.
Failure to move to $ 32 levels could see Litecoin take a big hit later in the day, a low-key stoppage of $ 30.33 in the morning leading the first major level of the day to $ 30, 05 before any recovery, the support levels of $ 30 in play today should the sentiment deteriorates further.
Ripple follows the package
Ripple's XRP fell 5.8% on Thursday, reversing the 2.13% gain on Wednesday to close the day at $ 0.42749.
Following the broader market, Ripple's XRP shifted to the start of an intraday day of $ 0.4571 before hitting the reversal, the first major resistance level at $ 0, 4756 has not been tested on the day.
The reversal saw Ripple's XRP drop at the end of the day intraday at $ 0.4250, before consolidating support at the first major level of support at $ 0.4246, with Ripple's XRP which managed to maintain the FIB retracement level of 23.6% of $ 0.4164 despite bearish sentiment over the past 10 days.
At the time of writing, Ripple's XRP was down 3.86% to $ 0.411, with Ripple's XRP falling from a high of $ 0.43417 to a minimum of $ 0.39866. morning before returning to the $ 0.40 level, the reversal with which Ripple's XRP falls through the first major day support level at $ 0.4160 and second main support level at $ 0 , 4044 and, even more important, the FIB 23.6% retracement level of $ 0.4164.
For the next day, a return to the 23.6% FIB retracement level would have supported a $ 0.42 recovery to reduce the losses of the day, while the sentiment would have to move physically to support an afternoon rally, with Ripple's XRP had to go to $ 0.4364 for a break.
Failure to return through FIB's 23.6% could see Ripple's XRP pullback to its minimum in the morning, while we expect the third main support level at $ 0.3723 to not be tested during the day.
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