Bitcoin Cash Cash sees an Early Rally
Bitcoin Cash gained 0.83% on Monday, partially reversing the 1.32% decline on Sunday to close the day at $ 535.7.
An initial move up to a maximum intraday of $ 544 was the only bullish move of the day, the high of the day near the first major resistance level at $ 550.7, before going back. Retaining $ 530 for the rest of the morning, Bitcoin Cash was hit by an early-afternoon sell-off that saw Bitcoin Cash yield at a low $ 519 intraday before recovering to $ 530 levels, the day's low of steered from the first main support level to $ 514.6.
At the time of publication, Bitcoin Cash rose 2.68% to $ 547.5, a bullish start to the day as the Bitcoin Cash rally goes through the first major resistance level of $ 550.7 to a morning high of $ 554.2 before slowing down.
For the day ahead, a return to $ 550 levels will support a run at the second major resistance level of the day at $ 557.9 to bring $ 560 levels into play, although for any break through the second major resistance level, the news threads will have to be a friendly crypto.
Failure to return to $ 550 levels could see Bitcoin Cash returning later in the day, a $ 533 decline bringing a $ 528.7 low morning into play, while we expect Bitcoin Cash to avoid the first main support level at $ 521.8 except materially negative news affecting the wires.
Litecoin in movement
Litecoin fell 1.39% on Monday, after losing 0.6% on Sunday, to close the day at $ 60.2, the fall marking a 4th consecutive day in red and 8 days in red outside the last 10.
Following the broader market, Litecoin fell from an intraday day of $ 61.8 at an early intraday afternoon of $ 59.22 before finding support at its first major daily support level at $ 59.57. , Litecoin managing to break up to $ 60 at the end of the day.
At the time of writing, Litecoin was up 1.36% to $ 61.04, with Litecoin recovering from a morning low of $ 59.91 to a maximum of $ 61.3, the first moves not they confirmed the main levels of support and resistance.
For the day ahead, a return to the morning level would bring the first major resistance level to $ 61.59 in play, with a $ 61 suspension until early afternoon which increased the prospects for a breakout of up to $ 62 levels more. late in the day before any withdrawal.
Failure to keep $ 61 in the morning could see Litecoin renouncing morning gains, a $ 60.4 rise likely to bring below $ 60 levels and the first major day support level at $ 59.01 in play, other material decline in the hands of the news on the day.
Ripple sees more red
Ripple's XRP fell 0.69% on Monday, partially reversing the 2.14% gain on Sunday to close the day at $ 0.5778.
A high early morning high intraday $ 0.66088 surpassed the first major resistance level at $ 0.6178, the pressure from the broader market led Ripple's XRP to slip through the first major level of support at $ 0.5522 at an early afternoon low intraday at $ 0.53116 before recovering. A late-day rally that saw Ripple's XRP hit a 2ND half a day high $ 0.596 before returning to $ 0.57 at the end of the day.
At the time of writing, Ripple's XRP fell 0.98% to $ 0.57219, the first moves that saw Ripple's XRP affect the broader market trend, returning from a minimum of $ 0.581 to a minimum of $ 0.563 before stabilizing, to leave the highest levels of support and resistance not tested.
For the next day, holding above $ 0.5716 will support a return move of $ 0.581 to bring $ 0.60 into play, while we would expect the first major resistance level of the day at $ 0.6121 not to be tested without the materially positive news hits the wires.
Failing to hold above $ 0.5716 could see Ripple's XRP pick up more success later in the day, down to $ 0.56 levels that will likely see Ripple's XRP support level up to $ 0 , 53 to test the first major support level at $ 0.5374 before any recovery.
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