Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/09/19

Bitcoin Cash ABC leads the way. The majors will need to make a late morning move to avoid a reversal of Monday’s gains…
Bob Mason
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin Cash ABC – Bucks the Trend Early

Bitcoin Cash ABC rallied by 4.95% on Monday. Following on from a 1.26% rise from Sunday, Bitcoin Cash ABC ended the day at $294.82.

A mixed start to the day saw Bitcoin Cash ABC ease to a mid-morning intraday low $280.56 before finding support.

Steering well clear of the first major support level at $276.91, Bitcoin Cash ABC rallied to a late intraday high $294.82.

Bitcoin Cash ABC broke through the first major resistance level at $285.32 and second major resistance level at $288.35.

While holding above the second major resistance level at the day end, it was also a first visit to $290 levels since 29th August.

At the time of writing, Bitcoin Cash ABC was up by 1.34% to $298.77. A particularly bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $293.21 to a high $298.77.

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

For the day ahead, a hold onto $298 levels would support a run at the first major resistance level at $299.57.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $300 levels.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall short of the second major resistance level at $304.33.

Failure to hold onto $298 levels could see Bitcoin Cash ABC hit reverse. A fall through the morning low $293.21 to $290 levels would bring the first major support level at $285.31 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$280 levels on the day.

Litecoin Back in the Red

Litecoin gained 1.65% on Monday. Following on from a 2.75% rise from Sunday, Litecoin ended the day at $67.2.

A bearish start to the day saw Litecoin fall from an early morning high $66.51 to a mid-morning intraday low $65.08.

Steering clear of the first major support level at $64.28, Litecoin rallied to a late intraday high $68.21.

Finding the support of the broader market, Litecoin broke through the first major resistance level at $67.65 before easing back.

The late pullback saw Litecoin fall back through the first major resistance level ahead of the day end.

At the time of writing, Litecoin was down by 0.28% to $67.01. A mixed start to the day saw Litecoin strike an early morning high $67.52 before hitting reverse.

Falling short of the first major resistance level at $68.58, Litecoin fell to an early morning low $66.63. Litecoin also left the major support levels untested early on.

For the day ahead, holding above $66.80 levels through the morning would support another run at the first major resistance level at $68.58.

Litecoin would need the support of the broader market, however, to break through to $68 levels.

Barring a broad-based crypto rally, Monday’s high $68.21 and first major resistance level would cap any upside.

Failure to hold above $66.80 levels would bring the first major support level at $65.45 into play.

Barring an extended sell-off through the day, Litecoin should steer well clear of the second major support level at $63.70.

Ripple’s XRP Holds onto $0.26

Ripple’s XRP gained 1.74% on Monday. Following on from a 2.75% rise on Sunday, Ripple’s XRP ended the day at $0.26158.

Tracking the broader market, Ripple’s XRP fell from an early morning high $0.25744 to a late morning intraday low $0.25373.

Holding above the first major support level at $0.2522, Ripple’s XRP rallied to a late intraday high $0.26485.

Ripple’s XRP broke through the first major resistance level at $0.2607 to come up against the second major resistance level at $0.2645 before easing back.

At the time of writing, Ripple’s XRP was down by 0.4% to $0.26053. Also mixed early on, Ripple’s XRP rose to an early morning high $0.26239 before falling to a low 0.26014.

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

For the day ahead, holding onto $0.26 levels would support another run at the first major resistance level at $0.2664.

Ripple’s XRP would need the support of the broader market, however, to break out from Monday’s high $0.26485.

Barring a broad-based crypto rally, Ripple’s XRP would likely continue to fall short of $0.27 levels.

Failure to hold onto $0.26 levels could see Ripple’s XRP slide deeper into the red. A fall through to $0.2580 levels would bring the first major support level at $0.2553 into play.

Barring an extended crypto sell-off through the day, Ripple’s XRP should steer clear of sub-$0.25 levels.

Please let us know what you think in the comments below

Thanks, Bob

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US