Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19

It’s a mixed start to the day for the trio, with Bitcoin Cash ABC looking to buck the trend. Support from the rest of the pack will be needed, however.
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rallied by 3.6% on Monday. Reversing a 3.56% slide from Sunday, Bitcoin Cash ABC ended the month down by 19.07% at $225.63.

A bearish start to the day saw Bitcoin Cash ABC slide to an early morning intraday low $212.37.

Steering clear of the first major support level at $211.72, Bitcoin Cash ABC rallied to a late afternoon intraday high $230.43.

Bitcoin Cash ABC broke through the first major resistance level at $225.83 before a late fall back to sub-$230 to limit the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.18% to $226.03. Through the early morning, Bitcoin Cash ABC rose to a morning high $226.03 to buck the trend early on.

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

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$223 levels to support another bullish day ahead.

A move back through Monday’s high $230.43 would bring the first major resistance level at $233.25 into play.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from $230.

Barring a broad-based crypto rally, resistance at $230 would likely pin Bitcoin Cash ABC back in the day.

Failure to steer clear of sub-$223 levels could see Bitcoin Cash ABC test the first major support level at $215.19.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$210 support levels on the day.

Litecoin Back in the Red

Litecoin rallied by 4.06% on Monday. Reversing a 2.92% slide from Sunday, Litecoin ended the month down 12.81% at $56.09.

Bearish through the early hours, Litecoin slid to an early morning intraday low $52.51 before finding support.

Steering clear of the first major support level at $52.17, Litecoin rallied to a late afternoon intraday high $56.45.

Litecoin broke through the first major resistance level at $55.65 before falling back to $55.1 levels.

A bullish end to the day, however, saw Litecoin break back through and hold above the first major resistance level.

At the time of writing, Litecoin was down by 0.91% to $55.58. A bearish start to the day saw Litecoin fall from an early morning high $56.2 to a low $55.42.

Litecoin left the major support and resistance levels untested early.

For the day ahead, a move back through to $56 levels would bring the first major resistance level at $57.52 into play.

Litecoin would need the support of the broader market, however, to break out from Monday’s high $56.45.

Barring a broad-based crypto rebound, we would expect resistance at $56 to pin Litecoin back on the day.

Failure to move back through to $56 levels could see Litecoin fall deeper into the red. A fall through to $54 levels would bring the first major support level at $53.58 into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$52 support levels on the day.

Ripple’s XRP back at $0.25 Levels

Ripple’s XRP rallied by 7.08% on Monday. Reversing a 0.81% decline from Sunday, Ripple’s XRP ended the month down 0.14% at $0.25826.

Tracking the broader market, Ripple’s XRP slid to an early morning intraday low $0.2362 before making its move.

Finding support at the first major support level at $0.2361, Ripple’s XRP rallied to a mid-day intraday high $0.2630.

Ripple’s XRP broke through the day’s major resistance levels before falling back to an afternoon low $0.25125.

The afternoon pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2573.

Whilst avoiding a fall back through to $0.24 levels, the third major resistance level pinned Ripple’s XRP back at the day end.

At the time of writing, Ripple’s XRP was down by 0.57% to $0.25678. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.25842 to a low $0.25391 before finding support.

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

For the day ahead, Ripple’s XRP would need to move back through to $0.26 levels to support a run at the first major resistance level at $0.2688.

Ripple’s XRP would need support from the broader market, however, to break through Monday’s high $0.2630.

Barring another broad-based crypto rally, Monday’s high $0.2630 would likely cap the upside on the day.

Failure to move back through to $0.26 levels could see Ripple’s XRP struggle through the day.

A fall through to $0.2520 levels would bring the first major support level at $0.2420 into play before any recovery.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.23 support levels.

Please let us know what you think in the comments below

Thanks, Bob

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