Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/09/19

It’s a mixed start to the day for the majors. Holding onto early gains will be key to avoiding a sell-off later in the day.
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – Holds onto $300

Bitcoin Cash ABC rose by 2.15% on Saturday. Reversing a 0.63% fall from Friday, Bitcoin Cash ABC ended the day at $303.81.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $295.24.

Steering clear of the first major support level at $294.76, rallied to a late intraday high $307.0.

Bitcoin Cash ABC broke through the first major resistance level at $300.97 and second major resistance level at $303.94.

Easing back in the final hour, Bitcoin Cash ABC fell back through the second major resistance level, whilst holding onto $300 levels.

At the time of writing, Bitcoin Cash ABC was up by 0.98% to $306.78. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $304.97 to a high $307.

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

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$303 levels to support a run at the first major resistance level at $308.79.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from this morning and Saturday’s high $307.

Barring another broad-based crypto rally, Bitcoin Cash ABC would likely come up short of the second major resistance level at $313.78.

Failure to steer clear of sub-$303 levels could see Bitcoin Cash ABC test the first major support level at $297.03 before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should steer well clear of the second major support level at $290.26.

 

Litecoin Visits $71

Litecoin rose by 2.2% on Saturday. Reversing a 0.16% fall from Friday, Litecoin ended the day at $70.62.

A bearish morning saw Litecoin fall from an early morning high $69.49 to a mid-day intraday low $68.30.

Steering clear of the first major support level at $67.56, Litecoin rallied to a late afternoon intraday high $71.45.

The rally saw Litecoin break through the first major resistance level at $70.15 and second major resistance level at $71.22.

A pull-back late in the day saw Litecoin fall back through the second major support level to wrap up the day at sub-$71 levels.

At the time of writing, Litecoin was up by 0.31% to $70.84. A bullish start to the day saw Litecoin rise from an early morning low $70.64 to a high $71.47 before easing back.

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

For the day ahead, holding above $70.60 levels would support another run at the first major resistance level at $71.95.

Litecoin would need the support of the broader market, however, to break out from this morning’s high $71.47.

Barring another broad-based crypto rally, Litecoin would likely fall short of the second major resistance level at $73.27.

Failure to steer clear of $70.60 levels could see Litecoin reverse Saturday’s gain. A fall through to sub-$70 would bring the first major support level at $68.80 into play before any recovery.

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

Ripple’s XRP Back at $0.26 Levels

Ripple’s XRP gained 2.34% on Saturday. Following on from a trend-bucking 0.55% rise from Friday, Ripple’s XRP ended the day at $0.26251.

A bearish start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.25465 before making a move.

Steering clear of the first major support level at $0.2536, Ripple’s XRP rallied to an early afternoon intraday high $0.2660.

Ripple’s XRP broke through the major resistance levels on the way through to a current week high.

A late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2632. Of significance, however, was the first hold onto $0.26 levels for the week.

At the time of writing, Ripple’s XRP was up by 0.14% to $0.26287. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26405 before pulling back to a low $0.26242.

Ripple’s XRP left the major support and resistance levels untested, in spite of the choppy start.

For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.2615 levels to support another day in the green.

A move back through the morning high $0.26405 would bring the first major resistance level at $0.2675 into play.

Barring another broad-based crypto rally, Ripple’s XRP would likely come up short of $0.27 levels on the day.

Failure to steer clear of sub-$0.2615 levels would bring sub-$0.26 levels into play before any recovery.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of the first major support level at $0.2561.

Please let us know what you think in the comments below

Thanks, Bob

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