Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 10/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC slid by 2.81% on Monday. Reversing a 1.42% gain from Sunday, Bitcoin Cash ABC ended the day at $207.99.

Recovering from a late morning low $211.80, Bitcoin Cash ABC rallied to an early afternoon intraday high $214.87.

Falling short of the first major resistance level at $215.94, Bitcoin Cash ABC slid to a late intraday low $205.91.

Bitcoin Cash ABC fell through the first major support level at $209.42 to find support at the second major support level at $205.80.

A late move back through to $207 levels limited the downside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.13% to $208.26. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $208.81 before falling to a low $207.56.

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

For the day ahead, a move through to $209.60 levels would bring the first major resistance level at $213.27 into play.

Support from the broader market would be needed, however, for a breakthrough to $210 levels.

Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely come up short of Monday’s high $214.87.

Failure to move through to $209.60 levels could see Bitcoin Cash ABC slide back into the red.

A fall through the morning low $207.56 would bring the first major support level at $204.31 into play.

Barring an extended sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $200.63.

Litecoin

Litecoin fell by 2.54% on Monday. Reversing a 0.86% rise from Sunday, Litecoin ended the day at $44.44.

Tacking the broader market, Litecoin rallied from a late morning low $45.03 to a mid-afternoon intraday high $45.94.

Falling short of the first major resistance level at $46.31, Litecoin slid to a late intraday low $44.07.

Litecoin fell through the first major support level at $44.91 and the second major support level at $44.21. A late move back through the second major support level reduced the deficit on the day.

At the time of writing, Litecoin was down by 0.09% to $44.35. A mixed start to the day saw Litecoin fall to an early morning low $44.15 before striking a high $44.59.

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

For the day ahead, a move through to $44.80 levels would support a run at the first major resistance level at $45.56.

Support from the broader market would be needed, however for Litecoin to break back through to $45 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $45.94 would likely limit any upside.

Failure to move through to $44.80 levels could see Litecoin fall deeper into the red. A fall through the morning low $44.15 would bring the first major support level at $43.69 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $42.95.

Ripple’s XRP

Ripple’s XRP slid by 2.38% on Monday. Reversing a 0.92% gain from Sunday, Ripple’s XRP ended the day at $0.2255.

Recovering from a bearish start to the day, Ripple’s XRP struck a mid-afternoon intraday high $0.23232 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP slid to a late intraday low $0.22192.

Ripple’s XRP fell through the first major support level at $0.2264 to find support at the second major support level at $0.22190.

In spite of late support, Ripple’s XRP failed to break back through the first major support level.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.22419. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22645 before falling to a low $0.22365.

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

For the day ahead, a move through to $0.2266 levels would bring the first major resistance level at $0.2312 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.23 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.23232 would likely cap any upside.

Failure to move through to $0.2266 levels could see Ripple’s XRP struggle throughout the day.

A fall through the morning low $0.22365 would bring the first major support level at $0.2208 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2162.

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Thanks, Bob