Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/09/19

It’s a mixed start to the day for the majors. Off the back of a particularly bearish August, another day of heavy losses could spell trouble for the bulls.
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – Back in the Red

Bitcoin Cash ABC rose by 0.86% on Saturday. Reversing a 0.11% fall from Friday, Bitcoin Cash ABC ended the month down 14.3% at $281.14.

A relatively choppy day saw Bitcoin Cash ABC fall from an early morning high $279.84 to a late intraday low $273.

In spite of the sell-off, Bitcoin Cash ABC steered clear of the first major support level at $272.64.

A late rally saw Bitcoin Cash ABC come within range of the first major resistance level at $284.68 with an intraday high $284.39 before easing back to $281 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.41% to $279.98. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $280.65 before falling to a low $278.73.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the day ahead, a move back through to $280 levels would support a run at the first major resistance level at $286.02.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Saturday’s high $284.39.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of the second major resistance level at $290.09.

Failure to move back through to $290 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through to $276 levels would bring the first major support level at $274.63 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$270 support levels.

Bitcoin Cash Chart

Litecoin on the Move

Litecoin gained 0.26% on Saturday. Following on from a 1.12% rise on Friday, Litecoin ended the month down 34.95% at $64.35.

Tracking the broader market, Litecoin rose to an early morning high $64.59 before sliding to a late intraday low $62.39.

Falling short of the major resistance levels, Litecoin came within range of the first major support level at $62.33.

Finding support from the broader market, Litecoin struck a late intraday high $65.33 before easing back to $64 levels. In spite of the late rally, Litecoin fell short of the first major resistance level at $65.83.

At the time of writing, Litecoin was up 0.79% to $64.86. A bullish start to the day saw Litecoin rise from an early morning low $64.33 to a high $65.32 before easing back.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move back through to $65 levels would bring the first major resistance level at $65.66 into play.

Litecoin would need the support of the broader market, however, to break out from Saturday’s high $65.33.

Barring a broad-based crypto rally, Litecoin would likely come up short of $66 levels for a 3rd consecutive day.

Failure to move back through to $65 levels could see Litecoin test the first major support level at $62.72.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $61.08.

Ripple’s XRP Struggles at $0.26

Ripple’s XRP rose by 1.01% on Saturday. Reversing a 0.59% fall from Friday, Ripple’s XRP ended the month down 19.2% at $0.25861.

A relatively bullish morning saw Ripple’s XRP rise from a low $0.25523 to a high $0.2586 before hitting reverse.

Coming up against the first major resistance level at $0.2581, Ripple’s XRP slid to a late intraday low $0.25357.

Finding support at the first major support level at $0.2536, Ripple’s XRP bounced back to an intraday high $0.26101.

Ripple’s XRP broke back through the first major resistance level to come up against the second major resistance level at $0.2602. A late pullback left Ripple’s XRP back at $0.25 levels.

At the time of writing, Ripple’s XRP was down by 0.3% to $0.25784. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25971 before falling to a low $0.25715.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a hold onto $0.2570 levels would support another run at the first major resistance level at $0.2619.

Ripple’s XRP would need the support of the broader market, however, to break out from Saturday’s high $0.26101.

Barring a broad-based crypto rally, Saturday’s high and first major resistance level at $0.2619 would likely limit any upside.

In the event of a breakout, Ripple’s XRP could test the second major resistance level at $0.2652 before any pullback.

Failure to hold onto $0.2570 levels could see Ripple’s XRP struggle on the day. A fall through to $0.2560 levels would bring the first major support level at $0.2545 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2503 on the day.

Please let us know what you think in the comments below

Thanks, Bob

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