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

The bulls take over in the early hours. The majors will need to hold onto key levels, however, to avoid a pullback.
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Eyes $310

Bitcoin Cash ABC slipped by 0.08% on Monday. Following a 1.06% gain from Sunday, Bitcoin Cash ABC ended the day at $304.75.

A bearish start to the day saw Bitcoin Cash ABC slide to a mid-morning intraday low $299.04.

In spite of the sell-off, Bitcoin Cash ABC steered clear of the first major support level at $298.48. Finding support at $300, Bitcoin Cash ABC rallied to a late morning intraday low $312.

Bitcoin Cash ABC came within range of the first major resistance level at $312.79 before sliding back to an afternoon low $302.06.

A late recovery to $306 levels left Bitcoin Cash ABC flat on the day.

At the time of writing, Bitcoin Cash ABC was up by 1.57% to $309.52. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $306.80 to a high $309.55.

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

For the day ahead, a move through to $310 levels would support a run at the first major resistance level at $311.49.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $311 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $312 would likely limit any upside.

Failure to move through to $310 levels could see Bitcoin Cash ABC hit reveres. A fall through to $305.2 levels would bring the first major support level at $298.53 into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should stay clear of the second major support level at $292.3.

Litecoin is on the Move

Litecoin fell by 0.74% on Monday. Partially reversing a 2.41% rise from Sunday, Litecoin ended the at $69.93.

Tracking the broader market through the day, Litecoin slid to a mid-morning intraday low $67.8. Litecoin fell through the first major support level at $68.3 before finding support from the broader market.

The late morning rebound saw Litecoin strike an intraday high $71.47. Falling short of the first major resistance level at $72.54, Litecoin slid back to a late afternoon low $68.83.

While late support limited Litecoin’s downside on the day, Litecoin was unable to hold onto $70 levels.

At the time of writing, Litecoin was up by 3.85% to $72.62. A particularly bullish start to the day saw Litecoin rally from an early morning low $69.64 to a high $73.24.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $72.54.

For the day ahead, a hold onto $72 levels would support a move back through to $73 levels later in the day.

Litecoin would need the support of the broader market, however, to break through the second major resistance level at $73.4.

Failure to hold onto $72 levels could see Litecoin cough up the morning gain. A slide through to sub-$70 would bring the first major support level at $68.0 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$70 on the day.

Ripple’s XRP Finds Support

Ripple’s XRP fell by 1.43% on Monday. Reversing a 0.9% gain from Sunday, Ripple’s XRP ended the day at $0.25919.

A bearish morning saw Ripple’s XRP slide to a mid-morning intraday low $0.25741. Finding support at the first major support level at $0.2574, Ripple’s XRP recovered to a late morning intraday high $0.26556.

In spite of the rebound, Ripple’s XRP came up short of the first major resistance level at $0.2678.

Hitting reverse through the afternoon, Ripple’s XRP slid back to $0.258 levels before steadying. Late support failed to pull Ripple’s XRP back through to $0.26 levels, however.

At the time of writing, Ripple’s XRP was up by 0.54% to $0.26058. A mixed start to the day saw Ripple’s XRP fall to a morning low $0.25908 before striking a high $0.26140.

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

For the day ahead, a hold onto $0.26 levels would support another run at the first major resistance level at $0.2640.

Ripple’s XRP would need the support of the broader market, however, to hold onto $0.26 levels.

Barring an extended crypto rally, Ripple’s XRP would likely come up short of the second major resistance level at $0.2689.

Failure to hold onto $0.26 levels could see Ripple’s XRP slide back into the red. A fall through to $0.2580 levels would bring the first major support level at $0.2559 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2526.

Please let us know what you think in the comments below

Thanks, Bob

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