It's a positive start to the day for the majors. An early move through to key levels would support a 2nd consecutive day in the green for the pack.
Bitcoin Cash ABC rose by 4.57% on Saturday. Reversing a 1.75% fall from Friday, Bitcoin Cash ABC ended the day at $301.5.
A bearish start to the day saw Bitcoin Cash ABC fall to a late morning intraday low $286.33 before making a move.
Holding well above the first major support level at $277.7, Bitcoin Cash ABC rallied to a late intraday high $305.11.
Bitcoin Cash ABC broke through the first major resistance level at $299.76 and closed out the day at $300 levels for the first time since 27th August.
At the time of writing, Bitcoin Cash ABC was up by 0.3% to $302.39. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $303.41 before easing back to $302 levels.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $304 levels would support a run at the first major resistance level at $308.96
Bitcoin Cash ABC would need the support of the broader market, however, to break out from Saturday’s high $305.11.
Barring a broad-based crypto rally, Bitcoin Cash ABC would likely struggle to break through to $310 levels.
Failure to move through to $304 levels could see Bitcoin Cash ABC hit reverse. A fall through to $297.7 levels would bring the first major support level at $290.18 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$290 support levels on the day.
Litecoin rallied by 6.1% on Saturday. Reversing a 0.43% fall from Friday, Litecoin ended the day at $68.87.
A relatively range-bound start to the day saw Litecoin ease to an early morning intraday low $64.64 before finding support.
Steering well clear of the first major support level at $63.15, Litecoin struck an early afternoon intraday high $70.58.
Litecoin broke through the first major resistance level at $67.52 and second major resistance level at $70.07.
A pullback through the late part of the day left Litecoin at sub-$70 for a 4th consecutive day.
At the time of writing, Litecoin was up by 0.28% to $69.06. A bullish start to the day saw Litecoin rise to an early morning high $70 before pulling back to a morning low $68.74.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $70 levels would support a run at the first major resistance level at $71.42.
Litecoin would need support from the broader market, however, to break out from Saturday’s high $70.58.
Barring a broad-based crypto rally, Saturday’s high and resistance at $70 would likely limit any upside on the day.
Failure to move back through to $70 levels could see Litecoin slide back into the red. A fall through to $67 levels would bring the first major support level at $65.48 into play before any recovery.
Barring an extended crypto reversal, Litecoin should steer clear of sub-$65 levels on the day.
Ripple’s XRP gained 3.76% on Saturday. Reversing a 1.85% fall from Friday, Ripple’s XRP ended the day at $0.26087.
Range-bound through most of the morning, Ripple’s XRP recovered from a start of a day intraday low $0.25054 to hit a late morning high $0.25366.
Ripple’s XRP left the major support and resistance levels untested ahead of a broad-based crypto rally.
Finding support from the broader market, Ripple’s XRP struck a late afternoon intraday high $0.26403 before easing back.
Ripple’s XRP broke through the first major resistance level at $0.2584 and held onto $0.26 levels through the rest of the day.
At the time of writing, Ripple’s XRP was up by 0.15% to $0.26127. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.26061 to a high $0.26195 before easing back.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a hold onto $0.26 levels would support a run at the first major resistance level at $0.2664.
Ripple’s XRP would need support from the broader market, however, to break through Saturday’s high $0.26403.
Barring a crypto breakout, Saturday’s high and first major resistance level would likely continue to pin Ripple’s XRP back from $0.27 levels.
Failure to hold onto $0.26 levels could see Ripple’s XRP hit reverse. A fall through to $0.2585 levels would bring the first major support level at $0.2529 into play.
In the event of an early sell-off, Ripple’s XRP could visit sub-$0.25 levels before any recovery. We would expect Ripple’s XRP to steer clear of the second major support level at $0.2450, however.
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.