Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/10/19

Ripple’s XRP makes an early move, as a late recovery continues into this morning. Avoiding a pullback in the late morning would support further gains.
Bob Mason
Bitcoin coin on white keyboard

Bitcoin Cash – ABC – Sees Green

Bitcoin Cash ABC gained 0.31% on Sunday. Following on from a 1.56% rise on Saturday, Bitcoin Cash ABC ended the week up 2.51% at $224.38.

A bullish start to the day saw Bitcoin Cash ABC rally to a mid-day intraday high $228.46 before hitting reverse.

Bitcoin Cash ABC broke through the first major resistance level at $227.92 before sliding to a late intraday low $222.13.

Steering clear of the first major support level at $221.44, Bitcoin Cash ABC recovered to $224 levels to close out the day in the green.

At the time of writing, Bitcoin Cash ABC was up by 1.01% to $226.64. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $223.27 to a high $226.64.

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

For the day ahead, a move through to $227 levels would support a run at the first major resistance level at $227.85.

Bitcoin Cash ABC would need the support of the broader market, however, to return to $228 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $230 levels for a 3rd consecutive day.

Failure to move through to $227 levels could see Bitcoin Cash ABC hit reverse.

A fall through to sub-$225 levels would bring the first major support level at $221.52 into play.

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

Litecoin Finds Early Support

Litecoin rose by 1.24% on Sunday. Reversing a 0.36% fall from Saturday, Litecoin ended the week up 3.65% at $56.48.

It was a choppy day for Litecoin which rallied from an early morning intraday low $55.55 to an early 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.

Litecoin reversed the early gain with a fall back through to $55.56 by mid-morning. Finding support through the rest of the morning, however, Litecoin bounced back to a mid-day intraday high $57.82.

Litecoin broke through the first major resistance level at $56.38 and the second major resistance level at $57.0.

Litecoin returned to sub-$56 levels before finding late support to close out the day in the green

At the time of writing, Litecoin was up by 0.39% to $56.70. A mixed start to the day saw Litecoin fall to an early morning low $56.23 before striking a morning high $57.0.

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

For the day ahead, Litecoin would need to move back through the morning high $57.0 to test the first major resistance level at $57.68.

Litecoin would need the support of the broader market, however, to break out from $57.0.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $57.82 would likely limit any upside.

Failure to move back through the morning high could see Litecoin fall back into the red. A fall through to sub-$56.60 levels would bring the first major support level at $55.41 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$55 support levels.

Ripple’s XRP Leads the Pack

Ripple’s XRP rose by 1.75% on Sunday. Following on from a 1.84% gain on Saturday, Ripple’s XRP ended the week up 8.45% at $0.27786.

Bullish through the day, Ripple’s XRP rallied from an early morning intraday low $0.27201 to a late intraday high $0.28099.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2780.

Coming within range of the second major resistance level at $0.2831, Ripple’s XRP fell back to $0.2730 levels.

Finding late support from the broader market, Ripple’s XRP broke back through the first major resistance level before easing back.

At the time of writing, Ripple’s XRP was up by 2.31% to $0.28427. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.27701 to a high $0.28624.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.02819.

Ripple’s XRP came up against the second major resistance level at $0.2859 before easing back.

For the day ahead, a hold above the first major resistance level would support a move back through the second major resistance level at $0.2859.

Ripple’s XRP would need the support of the broader market, however, to hold onto $0.28 levels.

Barring an extended crypto rally, we would expect Ripple’s XRP to continue to come up short of 0.29% levels.

Failure to hold above the first major resistance level could see Ripple’s XRP hit reverse.

A fall through to sub-$0.2770 levels would bring the first major support level at $0.2729 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.27 support levels.

Please let us know what you think in the comments below

Thanks, Bob

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