Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/10/19

It’s a mixed start to the day, with Bitcoin Cash ABC bucking the trend. Movement in the late morning will dictate the direction for the day.
Bob Mason
Cryptomania

Bitcoin Cash – ABC – Eyes $220

Bitcoin Cash ABC rose by 2.19% on Thursday. Reversing a 2.18% fall from Wednesday, Bitcoin Cash ABC ended the day at $219.23.

A mixed start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $214 before finding support.

Steering clear of the first major support level at $212.54, Bitcoin Cash ABC rose to a late afternoon intraday high $220.6.

Bitcoin Cash ABC came up short of the first major resistance level at $223.68 before easing back to $218 levels.

A bullish end to the day left Bitcoin Cash ABC at $219 levels.

At the time of writing, Bitcoin Cash ABC was up by 0.33% to $219.95. Bucking the trend early, Bitcoin Cash ABC rose to an early morning high $219.95.

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 $219 levels to support further upside on the day.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the first major resistance level at $221.89.

Barring a broad-based crypto rally, however, Thursday’s high $220.6 would likely pin Bitcoin Cash ABC back.

Failure to hold onto $219 levels could see Bitcoin Cash ABC hit reverse. A fall through to sub-$218 levels would bring the first major support level at $215.29 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $211.34.

Litecoin Back at $54 Levels

Litecoin rallied by 4.65% on Thursday. Reversing a 3.76% slide from Wednesday, Litecoin ended the day at $54.95.

A bearish start to the day saw Litecoin fall to an early morning intraday low $51.82 before making a move.

Holding above the first major support level at $50.64, Litecoin rallied to a late afternoon intraday high $55.20.

Litecoin broke through the first major resistance level at $54.87 before easing back to $54.2 levels.

A late mini-rally saw Litecoin break back through the first major resistance level ahead of the day end.

At the time of writing, Litecoin was down by 0.56% to $54.64. A bearish start to the day saw Litecoin fall from an early morning high $54.98 to a low $54.52.

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

For the day ahead, a move back through the morning high to $55 levels would bring the first major resistance level at $56.25 into play.

Litecoin would need the support of the broader market, however, to break out from Thursday’s high $55.2.

In the event of another crypto rally, the second major resistance level at $57.56 could come into play before any pullback.

Failure to move back through the morning high to $55 levels could see Litecoin fall deeper into the red.

A fall through to sub-$54 levels would bring the first major support level at $52.59 into play before any recovery.

Barring an extended sell-off through the day, however, Litecoin should steer clear of the second major support level at $50.24.

Ripple’s XRP Recovers to $0.30 Levels

Ripple’s XRP rallied by 6.33% on Thursday. Reversing a 1.76% fall from Wednesday, Ripple’s XRP ended the day at $0.30237.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.28057.

Steering clear of the first major support level at $0.2781, Ripple’s XRP rallied to a mid-afternoon intraday high $0.30478.

Ripple’s XRP broke through the first major resistance level at $0.2917 and second major resistance level at $0.2990.

A pullback to $0.2960 levels was short-lived, with Ripple’s XRP finding late support to close out the day at $0.30 levels.

At the time of writing, Ripple’s XRP was down by 0.69% to $0.30028. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.30276 to a low $0.29910.

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

For the day ahead, Ripple’s XRP would need to hold onto $0.30 levels to support a run at the first major resistance level at $0.3112.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.30478.

Barring a broad-based crypto rally later in the day, Ripple’s XRP would likely fall short of the second major resistance level at $0.3201.

Failure to hold onto $0.30 levels could see Ripple’s XRP fall deeper into the red. A fall through the morning low $0.29910 would bring the first major support level at $0.2870 into play.

Barring an extended sell-off through the day, Ripple’s XRP should steer well clear of sub-$0.28 support levels.

Please let us know what you think in the comments below

Thanks, Bob

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