Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/09/19

It’s another bearish start to the day, with the majors continuing to slide back from current week highs. Bitcoin Cash ABC could face a weekly loss…
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin Cash – ABC – Sees Red again…

Bitcoin Cash ABC fell by 1.24% on Saturday. Following on from a 2.56% slide on Friday, Bitcoin Cash ABC ended the day at $310.99.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $315.77.

Falling short of the first major resistance level at $323.63, Bitcoin Cash ABC slid to a mid-day intraday low $309.51.

Steering clear of the first major support level at $308.73, Bitcoin Cash ABC recovered to an afternoon high $314.09.

A late slide back to $310 levels left Bitcoin Cash ABC in the red on the day.

At the time of writing, Bitcoin Cash ABC was down by 0.90% to $308.20. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $309.51 to a low $308.20.

Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $308.41.

For the day ahead, Bitcoin Cash ABC would need to move through to $312 levels to support a reversal of Saturday’s losses.

Bitcoin Cash ABC would need support of the broader market, however, to take a run at the first major resistance level at $314.67.

Barring a broad-based crypto rally, the first major resistance level and Saturday high $315.77 would likely limit any upside.

Failure to move through to $312 levels could see Bitcoin Cash ABC spend a 3rd consecutive day in the red.

An extended sell-off through the day would bring the second major support level at $305.83 into play before any recovery.

Litecoin Takes Another Hit

Litecoin slid by 2.52% on Saturday. Following on from a 2.25% fall from Friday, Litecoin ended the day at $73.18.

A bullish start to the day saw Litecoin rise to an early morning intraday high $75.5 before hitting reverse.

Falling short of the first major resistance level at $77.23, Litecoin fell through the first major support level at $72.94 to a mid-day low $72.88.

Finding support in the early afternoon, Litecoin recovered to $74 levels before taking another hit. The 2nd reversal saw Litecoin fall back through the first major support level to an intraday low $72.04.

Litecoin found support from the broader market, however, to limit the downside late in the day.

At the time of writing, Litecoin was down by 1.15% to $72.34. Tracking the broader market, Litecoin fell from an early morning high $73.25 to a low $72.13.

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

For the day ahead, Litecoin would need to move through the morning high $73.25 to $73.60 levels to support a day in the green.

Support from the broader market would be needed, however, for Litecoin to take a run at the first major resistance level at $75.11.

Barring a broad-based crypto rally, however, Litecoin would likely come up short of $74 levels on the day.

Failure to move through to $73.60 levels would see Litecoin spend a 4th consecutive day in the red.

A fall through to sub-$72 levels would bring the first major support level at $71.65 into play. Barring an extended sell-off through the day, however, we would expect Litcoin to steer clear of the second major support level at $70.11.

Ripple’s XRP back at $0.28 Levels

Ripple’s XRP fell by 1.36% on Saturday. Following on from a 2.66% slide on Friday, Ripple’s XRP ended the day at $0.29054.

A particularly bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.29843.

Falling short of the first major resistance level at $0.3038, Ripple’s XRP slid to an early afternoon intraday low $0.28701.

Steering clear of the first major support level at $0.2848, Ripple’s XRP recovered to an afternoon high $0.29432. The visit to $0.2940 levels was brief, however, with Ripple’s XRP sliding back to wrap up the day at $0.2900 levels.

At the time of writing, Ripple’s XRP was down by 2.52% to $0.28322. A particularly bearish start to the day saw Ripple’s XRP slide from an early morning high $0.2050 to a low $0.28263.

Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2856.

For the day ahead, Ripple’s XRP would need to break through the first major support level to $0.2920 levels to signal a rebound.

With heavy gains for the current week, however, Ripple’s XRP would need the support of the broader market to break out from $0.2920.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of the first major resistance level at $0.2970.

Failure to move through to $0.2920 levels could see Ripple’s XRP spend a 4th consecutive day in the red.

A fall back through the morning low $0.28263 would bring the second major support level at $0.2806 into play.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.27 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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