Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 13/10/19

The majors find support early but will need to move through to key levels to avoid a reversal…
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – Tracks the Pack

Bitcoin Cash ABC rose by 1.56% on Saturday. Partially reversing a 4.10% slide from Friday, Bitcoin Cash ABC ended the day at $224.75.

A mixed start to the day saw Bitcoin Cash ABC rise from an early morning intraday low $221.3 to a morning high $224.38.

Leaving the major support and resistance levels untested, Bitcoin Cash ABC fell back to $222 levels.

Finding support in the early afternoon, Bitcoin Cash ABC rallied to a late afternoon intraday high $227.78.

Falling short of the first major resistance level at $230.51, Bitcoin Cash ABC fell back to $223 levels before finding support.

At the time of writing, Bitcoin Cash ABC was up by 0.19% to $225.17. Through the first hour, Bitcoin Cash ABC rose from a morning low $223.64 to a high $225.17.

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

For the day ahead, Bitcoin Cash ABC would need to hold onto $225 levels to support a run at the first major resistance level at $227.92.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $227 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $227.78 should limit any upside.

Failure to hold onto $225 levels could see Bitcoin Cash ABC hit reverse. A fall through to $223 levels would bring the first major support level at $221.44 into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$220 support levels on the day.

Litecoin Struggles Early

Litecoin fell by 0.36% on Saturday. Following on from a 3.15% slide on Friday, Litecoin ended the day at $55.77.

A bullish start to the day saw Litecoin strike a mid-morning intraday high $56.57.

Falling well short of the first major resistance level at $57.91, Litecoin fell back to $55 levels before recovering to an afternoon high $56.44.

A failure to break through to $57 levels weighed, however, with Litecoin sliding to an early evening intraday low $55.53.

In spite of the pullback, Litecoin steered well clear of the first major support level at $54.71 on the day.

At the time of writing, Litecoin was up by 1.11% to $56.39. A bullish start to the day saw Litecoin rise from an early morning low $55.55 to a high $56.56.

Steering clear of the first major support level at $55.34, Litecoin broke through the first major resistance level at $56.38.

For the day ahead, a move back through the morning high would bring the second major resistance level at $57.0 into play.

Litecoin would need the support of the broader market, however, to avoid a pullback through the first major resistance level.

In the event of a broad-based crypto rally, the third major resistance level at $58.04 would likely come into play.

Failure to hold above the first major resistance level could see Litecoin hit reverse. A fall through to sub-$56 levels would bring the first major support level at $55.34 into play.

Barring a broad-based crypto sell-off, Litecoin should steer clear of the second major support level at $54.92.

Ripple’s XRP Finds Support

Ripple’s XRP rose by 1.84% on Saturday. Reversing a 1.3% fall from Friday, Ripple’s XRP ended the day at $0.27304.

A bullish start to the day saw Ripple’s XRP rally from an early intraday low $0.2679 to a mid-morning intraday high $0.27798.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2745.

Coming within the range of the second major resistance level at $0.2809, Ripple’s XRP fell back to $0.2710 levels.

Finding support in the early afternoon, Ripple’s XRP broke back through the first major resistance level before a second pullback.

Ripple’s XRP fell back through the first major resistance level before finding support late in the day.

At the time of writing, Ripple’s XRP was up by 0.72% to $0.27500. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.27201 to a high $0.27686.

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

For the day ahead, Ripple’s XRP would need to hold above $0.2730 levels to support a run at the first major resistance level at $0.2780.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.27686.

In the event of an extended crypto rally, the second major resistance level at $0.2831 would likely come into play.

Failure to hold above $0.2730 levels could see Ripple’s XRP test the first major support level at $0.2680 before any recovery.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2629.

Please let us know what you think in the comments below

Thanks, Bob

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