Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/09/19

The crypto bulls return, with Ripple’s XRP amongst the front runners mid-week. A second breakout could deliver an extended momentum-driven rally.
Bob Mason
Cryptomania

Bitcoin Cash – ABC – Breaks Clear of $300

Bitcoin Cash ABC rallied by 2.88% on Tuesday. Following on from a 0.92% rise on Monday, Bitcoin Cash ABC ended the day at $316.63.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $309.79. Coming up against the first major resistance level at $309.41, Bitcoin Cash ABC fell to an intraday low $304.

Steering clear of the first major support level at $301.62, Bitcoin Cash ABC rallied to a late afternoon intraday high $328.

Bitcoin Cash ABC broke through the major resistance levels before easing back through the third major resistance level at $320.49 late in the day.

At the time of writing, Bitcoin Cash ABC was up by 2.67% to $325.07. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $320.28 to a high $325.88.

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

For the day ahead, a hold onto $320 levels would support another run at the first major resistance level at $328.42.

Bitcoin Cash ABC would need the continued support of the broader market, however, to break out from this morning’s high $325.88.

In the event of an extended crypto rally, Bitcoin Cash ABC would likely visit $330 levels before any pullback.

Failure to hold onto $320 levels could lead to a reversal of the morning gains. A fall through to $316 levels would bring the first major support level at $304.42 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer well clear of sub-$300 levels.

Litecoin Hits $77

Litecoin rose by 1.91% on Tuesday. Following on from a 3.74% rally on Monday, Litecoin ended the day at $74.13.

Relatively range-bound through the morning, Litecoin slipped from a mid-morning high $73.11 to late morning intraday low $72.18.

Steering clear of the first major support level at $70.32, Litecoin rallied to a late intraday high $77.66.

Finding support from the broader market, Litecoin broke through the first major resistance level at $74.34 and second major resistance level at $75.91.

A pullback late in the day saw Litecoin slip back through the second major resistance level to limit the gain on the day.

At the time of writing, Litecoin was up by 1.75% to $75.43. A bullish start to the day saw Litecoin rise from an early morning low $74.09 to a high $76.08 before easing back.

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

For the day ahead, a hold onto $75 levels through the morning would support another run at the first major resistance level at $77.13.

Litecoin would need the support of the broader market, however, to break out from the morning low $76.08.

In the event of an extended rally through the day, the second major resistance level at $80.14 would likely cap any upside.

Failure to hold onto $75 levels could see Litecoin hit reverse. A fall through to $74.5 levels would bring $72 levels into play before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of the first major support level at $71.65.

Ripple’s XRP Hits $0.31

Ripple’s XRP rallied by 9.03% on Tuesday. Following on from a 0.59% gain on Monday, Ripple’s XRP ended the day at $0.28611.

A bearish start to the day saw Ripple’s XRP ease to an early morning intraday low $0.26062 before finding support.

Steering clear of the first major support level at $0.2585, Ripple’s XRP rallied to a late afternoon intraday high $0.29887.

Ripple’s XRP broke through the major resistance levels to come up against resistance at $0.30.

In spite of a pullback late in the day, Ripple’s XRP avoided a fall back through the third major resistance level at $0.2747.

At the time of writing, Ripple’s XRP was up by 6.57% to $0.30492. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.28596 to a high $0.31302.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3031.

For the day ahead, a hold onto $0.30 levels would support another run at the second major resistance level at $0.3201.

Ripple’s XRP would need the continued support of the broader market, however, to break out from the morning high $0.31302.

In the event of an extended rally through the day, Ripple’s XRP could test resistance at $0.33 before any pullback.

Failure to hold on to $0.30 levels could see Ripple’s XRP ease back to $0.28 levels before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer well clear of the first major support level at $0.2649.

Please let us know what you think in the comments below

Thanks, Bob

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