Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/09/19

It’s a mixed start to the day for the majors. Failure to make an early move could bring support levels into play.
Bob Mason
Bitcoin coin on white keyboard

Bitcoin Cash – ABC – Avoids sub-$280 early

Bitcoin Cash ABC gained 1.26% on Sunday. Following on from a 0.86% rise on Saturday, Bitcoin Cash ABC ended the week down 7.8% at $282.29.

Bearish through most of the day, Bitcoin Cash ABC slid from an early morning high $278.78 to a late intraday low $274.56.

Falling well short of the major resistance levels, Bitcoin Cash ABC tested the first major support level at $274.63.

Finding support from the broader market, Bitcoin Cash ABC bounced back to a late intraday high $282.97.

In spite of the late rally, Bitcoin Cash ABC came up short of the first major resistance level at $286.02.

At the time of writing, Bitcoin Cash ABC was down by 0.17% to $281.81. In the early hours, Bitcoin Cash ABC eased back from an end of Sunday $282.29 to an early morning low $281.81.

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

For the day ahead, a move through Sunday’s high $282.97 would bring the first major resistance level at $285.32 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $283 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of $290 levels for a 4th consecutive day.

Failure to move through Sunday’s high could see Bitcoin Cash ABC slide deeper into the red. A fall through to sub-$280 levels would bring the first major support level at $276.91 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $271.53.

Litecoin Holds Steady

Litecoin rose by 2.75% on Sunday. Following on from a 0.26% gain on Saturday, Litecoin ended the week down 8.36% at $66.1.

Tracking the broader market, a relatively range-bound day saw Litecoin ease back from a morning high $65.32 to a late afternoon intraday low $64.0.

Steering clear of the major support and resistance levels, Litecoin bounced back to a late intraday high $67.37.

Litecoin broke through the first major resistance level at $65.66 and second major resistance level at $66.96 before easing back.

At the time of writing, Litecoin was up by 0.23% to $66.25. A range-bound start to the day saw Litecoin rise to a morning high $66.51 before pulling back to a low $66.0.

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

For the day ahead, a hold onto $66 levels would support a run at the first major resistance level at $67.65.

Litecoin would need the support of the broader market, however, to break out from Sunday’s high $67.37.

Barring a broad-based crypto rally, the first major resistance level would likely leave $68 levels out of reach for a 5th consecutive day.

Failure to hold onto $66 levels would bring the first major support level at $64.28 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$63 support levels on the day.

Ripple’s XRP Struggles at $0.26

Ripple’s XRP rose by 2.75% on Sunday. Following on from a 1.01% gain from Saturday, Ripple’s XRP ended the week down 4.57% to $0.25696.

A relatively choppy day saw Ripple’s XRP slide from an early morning intraday high $0.25971 to a late afternoon intraday low $0.25116

Falling short of the first major resistance level at $0.2619, Ripple’s XRP fell through the first major support level at $0.2545.

Steering clear of the second major support level at $0.2503, Ripple’s XRP bounced back to $0.2580 levels late on.

At the time of writing, Ripple’s XRP was down by 0.56% to $0.25553. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25744 to a low $0.25483.

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

For the day ahead, a move back through to $0.2560 levels would support a run at the first major resistance level at $0.2607.

Ripple’s XRP would need the support of the broader market to breakout from Sunday’s high $0.25971.

Barring a broad-based rally, Ripple’s XRP would likely come up short of $0.26 levels for a 2nd consecutive day.

Failure to move through to $0.2560 levels could see Ripple’s XRP take a bigger hit on the day.

A fall through the morning low $0.25483 would bring the first major support level at $0.2522 into play.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.25 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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