Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 10/11/19

It’s a bearish start to the day, with Bitcoin Cash ABC leading the way down. Following Friday’s slide and Saturday’s gains, it could get choppy…
Bob Mason
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Bitcoin Cash – ABC – Sees More Red

Bitcoin Cash ABC rose by 2.13% on Saturday. Partially reversing a 4.67% slide from Friday, Bitcoin Cash ABC ended the day at $283.0.

A bullish start to the day saw Bitcoin Cash ABC rise from an early morning intraday low $275.88 to a late morning intraday high $283.52.

In spite of the early moves, Bitcoin Cash ABC left the major support and resistance levels untested.

Through to the early afternoon, Bitcoin Cash ABC fell back to $279 levels before finding support late on. A late move back through to $280 levels delivered the upside on the day.

At the time of writing, Bitcoin Cash ABC was down by 1.07% to $279.96. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $281.80 to a low $279.96.

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

For the day ahead, a move back through to $281 levels would support a run at the first major resistance level at $285.72.

Bitcoin Cash ABC would need the support of the broader market, however, to break through Saturday’s high $283.52.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall short of $290 levels for a 2nd consecutive day.

Failure to move back through to $281 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through to sub-$279 levels would bring the first major support level at $278.08 into play before any recovery.

Barring an extended sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $273.16.

Litecoin back at $61 Levels

Litecoin rose by 2.89% on Saturday. Reversing a 1.58% fall from Friday, Litecoin ended the day at $62.04.

A bullish start to the day saw Litecoin rise from an early intraday low $60.10 to mid-morning high $61.95 before hitting reverse.

Steering clear of the major support and resistance levels early on, Litecoin fell back to an afternoon low $60.28.

Finding support from the broader market, Litecoin rallied to a late intraday high $62.33. Litecoin came up against the first major resistance level at $62.33 before easing back.

At the time of writing, Litecoin was down by 0.68% to $61.61.

A mixed start to the day saw Litecoin rise to an early morning high $62.11 before hitting reverse. Falling short of the first major resistance level at $62.88, Litecoin fell to a morning low $61.40 before finding support.

Litecoin also left the major support levels untested early on.

For the day ahead, Litecoin would need to move back through to $62 levels to support a run at the first major resistance level at $62.88.

Support from the broader market would be needed, however, for Litecoin to break through Saturday’s high $62.33.

Barring a broad-based crypto rally, resistance at $62 and Saturday’s high would likely cap any upside.

Failure to move through to $62 levels could see Litecoin fall deeper into the red. A fall through to sub-$61.50 levels would bring the first major support level at $60.65 into play

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$60 support levels.

Ripple’s XRP struggles at $0.28

Ripple’s XRP rose by 1.55% on Saturday. Partially reversing a 5.02% slide from Friday, Ripple’s XRP ended the day at $0.28028.

A bullish start to the day saw Ripple’s XRP rally from an early intraday low $0.27501 to a mid-morning intraday high $0.28243.

In spite of the early moves, Ripple’s XRP left the major support and resistance levels untested.

Tracking the broader market, Ripple’s XRP eased back to an afternoon low $0.276 before breaking back through to $0.28 levels.

The late recovery delivered the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.70% to $0.27831. A bearish start to the days saw Ripple’s XRP fall from an early morning high $0.28072 to a low $0.27712.

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 a run at the first major resistance level at $0.2835.

Ripple’s XRP would need the support of the broader market, however, to break out from Saturday’s high $0.28243.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall well short of the second major resistance level at $0.2867.

Failure to move back through to $0.2790 would leave Ripple’s XRP under pressure throughout the day.

A fall back through the morning low $0.27712 would bring the first major support level at $0.2761 into play.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of the second major support level at $0.2718.

Please let us know what you think in the comments below

Thanks, Bob

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