Bitcoin Cash, Litecoin and Ripple Daily Analysis – 25/06/18

Bitcoin Cash Steadies

Bitcoin Cash fell by 2.06% on Sunday, reversing Saturday’s 1.8% gain, to end the week down 11.9% to $746.1.

It was a particularly choppy day, with the sell-off continuing through the morning, Bitcoin Cash falling through the day’s first major support level at $736.43 and second major support level at $708.87 to an intraday low and new swing lo $661 before a bounce back to an intraday high $771.9, Bitcoin Cash calling on support at the third major support level at $659.67.

While falling short of the day’s first major resistance level at $785.63, breaking back through the day’s major support levels by the day’s end was key.

At the time of writing, Bitcoin Cash was down 0.02% to $746.8 in what’s been a relatively range bound start to the day, a start of the day $758.1 high and morning $734.6 low steering well clear of the day’s first major resistance and support levels.

For the day ahead, a move back through the morning’s high would support a run at the first major resistance level at $791.67, while any moves back through to $800 levels will need the support of the broader market.

Failure to move back through the morning’s high to take a run at $800 levels would likely see Bitcoin Cash pullback later in the day, with sub-$700 support levels in play should sentiment not shift through the day.

With investors being conscious of the news wires that could come to life at any moment, it’s going to be a tough day for Bitcoin Cash.

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Litecoin Troubled

Litecoin fell by 3.6% on Sunday, following on from Saturday’s 1.95% fall, to end the week down 15.6% to $80.16.

Under pressure through much of the day, Litecoin pulled back through the day’s first major support level at $80.94 and second major support level at $78.5 to an intraday low and new swing lo $73.46, before bouncing back through the major support levels to an intraday high $83.75.

While closing above the first major support level at $80.94 was a positive, Sunday’s new swing lo and continued failure to take a run at the 23.6% FIB Retracement Level of $99 leaves the extended bearish trend firmly intact.

At the time of writing, Litecoin was down 0.33% to $80.34, with Litecoin seeing an early pullback to a morning low $78.8 before recovering to $80 levels with a morning high $81.94.

While the day’s first major support and resistance levels were left untested through the early part of the day, Litecoin could be in for another choppy day ahead, with a move back through the morning’s $81.94 high supporting a run at the first major resistance level at $84.79, though for Litecoin to break through to $84 levels, the markets will really need to ignite through the middle part of the day.

Failure to move back through to $81 levels will likely see a pullback to sub-$80 levels, with the day’s first major support level at $74.5 in play later in the day.

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Ripple Finds Support

Ripple’s XRP fell by 2.71% on Sunday, reversing Saturday’s 1.3% gain, to end the week down 9.2% to $0.47572.

A choppy start to the day saw Ripple’s XRP slide through the day’s first major support level at $0.478 and second major support level at $0.466 to a morning low $0.4437, testing support at the third major support level at $0.4449 before a move back through to $0.46 levels.

An early afternoon, broad based market sell-off, saw Ripple’s XRP slide back through the day’s major support levels to an intraday low and new swing lo $0.44026 before recovering to $0.45 levels.

At the time of writing, Ripple’s XRP was up 0.23% to $0.47718, in what’s been a relatively range bound start to the day, a start of the day $0.48426 high falling short of the first major resistance level at $0.5009, with a morning low $0.46807 steering clear of the first major support level at $0.4454.

For the day ahead, a move through the morning’s high would support a run at $0.50 levels and the day’s first major resistance level, with any relief rally likely to bring the second major resistance level at $0.5261 into play before any pullback.

Failure to move back through the morning’s high $0.48426 to take a run at $0.50 levels could see a pullback through the afternoon, with the day’s first major support level at $0.4454 in play through the day. The bears will be eyeing up sub-$0.40 levels.

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