Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/10/19

It’s a mixed start to the day, with a bearish sentiment weighing on the majors early on.
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Rebounds

Bitcoin Cash ABC rallied by 5.72% on Sunday. Following on from a 0.04% gain on Saturday, Bitcoin Cash ABC ended the week up 0.41% at $224.19.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $211.28 before making a move.

Steering clear of the first major support level at $209.88, Bitcoin Cash ABC rallied to a late intraday high $225.52.

Bitcoin Cash ABC broke through the day’s major resistance levels to hit $220 levels for the first time since Thursday.

At the time of writing, Bitcoin Cash ABC was up by 0.23% to $224.70. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $223.70 to a high $225.15 before easing back.

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

For the day ahead, a move back through to $225 levels would bring the first major resistance level at $229.38 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $225 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $230 levels on the day.

Failure to move back through to $225 levels could see Bitcoin Cash ABC slide back into the red.

A fall through the morning low $223.70 to $220 levels would bring the first major support level at $215.14 into play.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$210 levels on the day.

Litecoin Back at $54 Levels

Litecoin rose by 2.06% on Sunday. Following on from a 0.94% gain on Saturday, Litecoin ended the week down by 2.67% to $54.96.

A bearish start to the day saw Litecoin slide to a late morning intraday low $52.64 before finding support.

Litecoin fell through the first major support level at $52.88 before rallying to a late intraday high $55.59.

Off the back of an afternoon rally, Litecoin broke through the first major resistance level at $54.44 and second major resistance level at $55.07.

A late pullback saw Litecoin fall back through to sub-$55 levels.

At the time of writing, Litecoin was down by 0.89% to $54.47. A bearish start to the day saw Litecoin fall from an early morning high $54.96 to a low $54.22 before finding support.

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

For the day ahead, a move through to $55 levels would support a run at the first major resistance level at $56.15.

Support from the broader market would be needed, however, for Litecoin to breakout from Sunday’s high $55.59.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

Failure to move through to $55 levels could see Litecoin slide deeper into the red.

A fall through the morning low $54.22 would bring the first major support level at $53.20 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of the second major support level at $51.45.

Ripple’s XRP Holds at $0.29 Levels

Ripple’s XRP rose by 0.84% on Friday. Reversing a 0.79% loss from Saturday, Ripple’s XRP ended the week up by 6.25% at $0.29521.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.283.

Ripple’s XRP fell through the first major support level at $0.2874 before finding support from the broader market.

Bullish through the rest of the day, Ripple’s XRP rallied to a late intraday high $0.29773.

Falling short of the first major resistance level at $0.2998, Ripple’s XRP eased back to $0.2950 levels to limit the upside on the day.

At the time of writing, Ripple’s XRP was down 1.52% to $0.29072. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29559 to a low $0.29003.

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

For the day ahead, Ripple’s XRP would need to move back through to $0.2920 levels to support a rebound.

Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the first major resistance level at $0.3010.

Barring a broad-based crypto rebound, Sunday’s high $0.29773 and first major resistance level would likely limit any upside.

Failure to move through to $0.2920 levels would likely see Ripple’s XRP test the first major support level at $0.2862.

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

Please let us know what you think in the comments below

Thanks, Bob

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