Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/09/19

It’s another mixed start to the day. Sideways movements have delivered some strong rallies in the past…
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 0.59% on Thursday. Partially reversing a 2.1% slide from Wednesday, Bitcoin Cash ABC ended the day at $300.79.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $299.86 before hitting reverse. Falling short of the first major resistance level at $305.96, Bitcoin Cash ABC slid to a mid-morning intraday low $294.4.

Steering clear of the first major support level at $289.75, Bitcoin Cash ABC bounced back to a late intraday high $302.42.

In spite of the breakout, Bitcoin Cash ABC came up short of the first major resistance level before easing back. Key on the day was the hold onto $300 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.89% to $298.11. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $300.70 to a low $298.

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

For the day ahead, a move back through to $299.5 levels would support a run at the first major resistance level at $303.98.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $300 levels.

Barring a broad-based crypto rally later in the day, Bitcoin Cash ABC would likely come up short of the second major resistance level at $307.16.

Failure to move back through to $299.5 could see Bitcoin Cash ABC fall deeper into the red. A fall through to $297 levels would bring the first major support level at $296.05 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 levels on the day. The second major support level at $291.3 would likely limit any downside.

Litecoin Gives up on $70

Litecoin fell by 0.80% on Thursday. Following on from a 1.29% decline on Wednesday, Litecoin ended the at $69.28.

A bearish start to the day saw Litecoin fall from an early morning intraday high $70 to a mid-morning intraday low $68.29.

Whilst falling short of the major resistance levels, Litecoin came within range of the first major support level at $68.11.

Finding support from the broader market, Litecoin recovered to an afternoon high $69.9 before sliding back into the red.

At the time of writing, Litecoin was up by 0.23% to $69.44. A mixed start to the day saw Litecoin slide from an early morning high $69.63 to a low $68.88 before finding support.

Litecoin left the major support and resistance levels untested in spite of the choppy start to the day.

For the day ahead, holding above $69.15 levels would support another run at the first major resistance level at $70.09.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $69.63.

Barring a broad-based crypto rally, Thursday’s high $70.0 and first major resistance level would likely limit any upside.

Failure to hold above $69.15 levels could see Litecoin slide into the red.

A fall through the morning low $68.88 would bring the first major support level at $68.38 into play before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of sub-$68 support levels.

Ripple’s XRP Sees more Red

Ripple’s XRP slipped by 0.29% on Thursday. Following on from a 1.21% decline on Wednesday, Ripple’s XRP ended the day at $0.25512.

Tracking the broader market, Ripple’s XRP fell from an early morning high $0.25660 to a mid-morning intraday low $0.25162.

Steering clear of the first major support level at $0.2507, Ripple’s XRP recovered to strike an early afternoon intraday high $0.25735.

In spite of the rebound, Ripple’s XRP came up short of the first major resistance level at $0.2611. It was also the first time since 6th September that Ripple’s XRP failed to visit $0.26 levels.

A choppy 2nd half of the day saw Ripple’s XRP slide back to $0.2520 levels before finding support to limit the downside on the day.

At the time of writing, Ripple’s XRP was up by 0.5% to $0.25639. A bearish start to the morning saw Ripple’s XRP fall to an early morning low $0.25404 before striking a high $0.25660.

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

For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.2550 levels to deliver a 1st day in the green for the week.

A move through the morning high $0.2566 would bring the first major resistance level at $0.2578 into play.

Ripple’s XRP would need to move through to $0.2560 levels by early afternoon, however, so support a breakout.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.26 levels for a 2nd consecutive day.

A fall through the morning low $0.25404 would bring the first major support level at $0.2520 into play.

In the event of a crypto meltdown, Ripple’s XRP could test the second major support level at $0.2490 before any recovery.

Please let us know what you think in the comments below

Thanks, Bob

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