Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/09/19

It’s a mixed start to the day, with Bitcoin Cash ABC holding onto early gains. Failure to hold above key levels could deliver a slide later in the day…
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Sees Green

Bitcoin Cash ABC rose by 0.92% on Monday. Reversing a 0.88% fall from the previous week, Bitcoin Cash ABC ended the day at $306.12.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $308.2. Bitcoin Cash ABC broke through the first major resistance level at $305.53 before hitting reverse.

Falling short of the second major resistance level at $308.77, Bitcoin Cash ABC slid to a late afternoon intraday low $300.41.

Bitcoin Cash ABC tested the first major support level at $300.53 before finding support from the broader market.

A late broad-based crypto rebound saw Bitcoin Cash ABC break back through the first major resistance level at $305.53.

In spite of a return to $308 levels, Bitcoin Cash ABC was unable to test the second major resistance level at $308.77.

At the time of writing, Bitcoin Cash ABC was up by 0.11% to $306.47. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $309.79 before sliding to a low $306.47.

The early rally saw Bitcoin Cash ABC test the first major resistance level at $309.41 before the pullback.

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$305 levels to support another run at the first major resistance level at $309.41.

Support from the broader market, would be needed, however, for Bitcoin Cash ABC to break through to $310 levels.

Failure to steer clear of sub-$305 levels could see Bitcoin Cash ABC hit reverse. A fall through to $302 levels would bring the first major support level at $301.62 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer well clear of the second major support level at $297.12.

Litecoin Hits $73

Litecoin rallied by 3.74% on Monday. Reversing a 0.44% decline from the previous week, Litecoin ended the day at $72.76.

Another bullish start to the day saw Litecoin rise to an early morning high $72.06. Litecoin broke through the first major resistance level at $71.17 before hitting reverse.

Litecoin slid to an early afternoon intraday low $69.45 to test the first major support level at $69.41.

Finding support from the broader market, Litecoin rallied to a late intraday high $73.81. Litecoin broke back through the first major resistance level at $71.17 and the second major resistance level at $72.20.

The third major resistance level at $73.96 capped the upside on the day.

At the time of writing, Litecoin was down by 0.27% to $72.61. A mixed start to the day saw Litecoin rise to an early morning high $73.08 before falling to a low $72.32.

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

For the day ahead, a hold onto $72 levels would support another move through to $73 levels later in the day.

Litecoin would need support from the broader market, however, to take a run at the first major resistance level at $74.34.

Barring a broad-based crypto rally, Monday’s high $73.47 and resistance at $74 would likely cap any upside.

Failure to hold onto $72 levels could see Litecoin test the first major support level at $70.32 before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of sub-$70 support levels on the day.

Ripple’s XRP Fails to Visit $0.27 Levels

Ripple’s XRP rose by 0.59% on Monday. Reversing most of a 0.63% fall from the previous week, Ripple’s XRP  ended the day at $0.26253.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.2640 before hitting reverse.

Coming up against the first major resistance level at $0.2644, Ripple’s XRP slid to a late afternoon intraday low $0.25726.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2585 before finding support from the broader market.

A late crypto rebound saw Ripple’s XRP move back through to $0.2620 levels to wrap up the day in the green.

At the time of writing, Ripple’s XRP was down by 0.61% to $0.26093. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.26303 to a low $0.26092.

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

For the day ahead, A move through to $0.2615 levels would support a run at the first major resistance level at $0.2653.

Ripple’s XRP would need the support of the broader market, however, to break out from Monday’s high $0.2640.

In the event of an extended crypto rally later in the day, the second major resistance level at $0.2680 would likely cap any upside.

Failure to move through to $0.2615 levels could see Ripple’s XRP fall deeper into the red. A fall through to sub-$0.26 levels would bring the first major support level at $0.2585 into play.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of the second major support level at $0.2545.

Please let us know what you think in the comments below

Thanks, Bob

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