Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/08/19

Bitcoin Cash – ABC – Holds Steady

Bitcoin Cash ABC fell by 1.3% on Thursday. Reversing a 1.4% loss from Wednesday, Bitcoin Cash ABC ended the day at $333.00.

A particularly bearish day saw Bitcoin Cash ABC slide from an early intraday high $337.7 to a late afternoon intraday low $326.55.

Steering clear of the first major resistance level at $348.14, Bitcoin Cash ABC fell through the first major support level at $332.48.

Finding support late in the day, Bitcoin Cash ABC managed to move back through to $330 levels to limit the loss on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.06% to $333.20. A lack of movement through the early part of the morning left the major support and resistance levels untested.

For the day ahead, holding above $332.50 levels would support a run at the first major resistance level at $338.28.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Thursday’s high $337.7.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $340 levels on the day.

Failure to hold above $332.50 levels could see Bitcoin Cash ABC hit reverse. A fall through to sub-$330 levels would bring the first major support level at $327.13 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$320 levels on the day. The second major support level at $321.27 should limit any downside.

Litecoin on the Slide

Litecoin slipped by 0.55% on Thursday. Following on from a 2.54% slide on Wednesday, Litecoin ended the day at $90.00.

An early morning intraday high $92.82 was the only bullish move of the day. Falling well short of the first major resistance level at $94.24, Litecoin slid to an early afternoon intraday low $87.69.

In spite of the reversal, Litecoin steered clear of the first major support level at $86.97. Finding support through the afternoon, Litecoin managed to wrap up the day at $90 levels. Litecoin’s last closeout at sub-$90 was on 27^th July…

At the time of writing, Litecoin was down by 1.19% to $88.93. A bearish start to the day saw Litecoin slide from an early morning high $90.32 to a low $88.83.

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

For the day ahead, a move back through to $90.20 levels would support a run at the first major resistance level at $92.65.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $92.82 would likely cap any upside.

In the event of a crypto rebound, the second major resistance level at $95.30 would likely come into play.

Failure to move back through to $90.20 levels could see Litecoin slide deeper into the red. A fall through to sub-$88 levels would bring the first major support level at $87.52 into play.

Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $85.04 on the day.

Ripple’s XRP Struggling at $0.31

Ripple’s XRP fell by 0.85% on Thursday. Following a 0.13% gain on Wednesday, Ripple’s XRP ended the day at $0.30915.

A bullish start to the day saw Ripple’s XRP hit an early morning intraday high $0.3123 before hitting reverse.

Falling short of the first major resistance level at $0.3166, Ripple’s XRP fell to a late afternoon intraday low $0.30514.

The reversal saw Ripple’s XRP fall through the first major support level at $0.3064 before finding support.

While moving back through the first major support level, Ripple’s XRP failed to break back through to $0.31 levels.

At the time of writing, Ripple’s XRP was down by 0.39% to $0.30795. A mixed start to the day saw Ripple’s XRP hit an early morning high $0.31016 before sliding back.

Falling short of the first major resistance level at $0.3126, Ripple’s XRP fell to a morning low $0.30795.

Ripple’s XRP held above the first major support level at $0.3054 in spite of the pullback.

For the day ahead, a move back through to $0.3090 levels would support another run at the first major resistance level at $0.3126.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.31016.

In the event of a broad-based crypto rally, the second major resistance level at $0.3160 would likely come into play.

Failure to move back through to $0.3090 levels could see Ripple’s XRP slide deeper into the red. A fall through to sub-$0.3070 levels would bring the first major support level at $0.3054 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.30 levels. The second major support level at $0.3017 would limit any downside on the day.

Please let us know what you think in the comments below

Thanks, Bob