Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/10/19

It’s a mixed start to the day for the majors. Failure to make a move by late morning could lead to a sell-off later in the day.
Bob Mason
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin Cash – ABC – Holds onto $230 Levels

Bitcoin Cash ABC fell by 1.33% on Tuesday. Partially reversing a 7.42% rally from Monday, Bitcoin Cash ABC ended the day at $230.50.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $239.00 before hitting reverse.

Falling short of the first major resistance level at $242.13, Bitcoin Cash ABC slid to a late intraday low $227.78.

In spite of the pullback, Bitcoin Cash ABC steered clear of the first major support level at $223.53.

Finding support late in the day, Bitcoin Cash ABC recovered to $230 levels to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.05% to $230.61. A bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $231.76 before falling to a low $230.61.

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

For the day ahead, Bitcoin Cash ABC would need to move through to $232.50 levels to support a day in the green.

Bitcoin Cash ABC would need the support of the broader market, however, to break through the first major resistance level at $237.07.

Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to come up short of Tuesday’s high $239.

Failure to move through to $232.50 levels could see Bitcoin Cash ABC spend another day in the red.

A fall through to $227 levels would bring the first major support level at $225.85 into play before any recovery.

Barring a crypto meltdown, however, we would expect Bitcoin Cash ABC to steer clear of the second major support level at $221.21.

Litecoin Revisits $58

Litecoin fell by 0.97% on Tuesday. Partially reversing a 5.63% rally from Monday, Litecoin ended the day at $57.00.

A bullish start to the day saw Litecoin rally to an early morning intraday high $58.50. Falling short of the first major resistance level at $59.76, Litecoin slid to a late intraday low $56.55.

Steering clear of the first major support level at $54.31, Litecoin recovered to $57 levels to cut the deficit on the day.

At the time of writing, Litecoin was up by 0.21% to $57.12. A mixed start to the day saw Litecoin rise from an early morning low $56.87 to a high $57.28 before easing back.

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

For the day ahead, a move through to $57.40 levels would support another run at $58 levels later in the day.

Litecoin would need the support of the broader market, however, to break through the first major resistance level at $58.15.

Barring a broad-based crypto rally, Tuesday’s high $58.5 and first major resistance level should cap any upside.

Failure to move through to $57.40 levels could see Litecoin hit reverse.

A fall through back through the morning low $56.87 would bring the first major support level at $56.20 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$56 support levels on the day.

Ripple’s XRP Sees Red

Ripple’s XRP rose by 0.54% on Tuesday. Following on from an 8.04% rally on Monday, Ripple’s XRP ended the day at $0.27870.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.28667.

Ripple’s XRP came within range of the first major resistance level at $0.2882 before hitting reverse.

The reversal saw Ripple’s XRP slide to an early afternoon intraday low $0.27222 before finding support.

Steering well clear of the first major support level at $0.2598, Ripple’s XRP struck an afternoon high $0.28090 before easing back.

In spite of the pullback, Ripple’s XRP closed out the day in the green, bucking the crypto market trend on the day

At the time of writing, Ripple’s XRP was down by 0.46% to $0.27743. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.28099 before falling to a low $0.27730.

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

For the day ahead, a move back through to $0.2790 levels would support another run at the first major resistance level at $0.2862.

Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.28099.

Barring a broad-based crypto rally, Tuesday’s high $0.28667 and first major resistance level would likely limit any upside.

Failure to move back through to $0.2790 levels could see Ripple’s XRP fall deeper into the red.

A fall through to $0.2750 levels would bring the first major support level at $0.2717 into play.

Barring a broad-based crypto sell-off, however, we would expect Ripple’s XRP to steer clear of sub-$0.27 levels.

Please let us know what you think in the comments below

Thanks, Bob

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