Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/10/19

Ripple’s XRP is on the move early, as the broader market continues to struggle. It looks set to be another choppy day ahead in the crypto markets…
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin Cash – ABC – Back At $230

Bitcoin Cash ABC rose by 3.94% on Monday. Following on from a 5.72% rally on Sunday, Bitcoin Cash ABC ended the day at $323.53.

A relatively range-bound start to the day saw Bitcoin Cash ABC ease to a late morning intraday low $223.62 before making a move.

Steering well clear of the first major support level at $215.14, Bitcoin Cash ABC rallied to a late intraday high $235.87.

Bitcoin Cash ABC broke through the first major resistance level at $229.38 and second major resistance level at $234.57.

Easing back late in the day, Bitcoin Cash ABC fell back through the second major resistance level to wrap up the day at $232 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.56% to $231.22. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $233.53 before falling to a low $231.05.

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

For the day ahead, a move back through to $233 levels would bring the first major resistance level at $237.73 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Monday’s high $235.87.

In the event of another rally later in the day, Bitcoin Cash ABC could take a run at $240 levels before any pullback.

Failure to move back through to $233 levels could see Bitcoin Cash ABC come under pressure. A fall back through to $230.50 would bring the first major support level at $225.48 into play.

Barring an extended sell-off, however, we would expect Bitcoin Cash ABC to steer clear of sub-$220 support levels.

Litecoin Holds onto $54 Levels

Litecoin fell by 0.44% on Monday. Partially reversing a 2.06% gain from Sunday, Litecoin ended the day at $54.72.

A bearish start to the day saw Litecoin fall to a mid-morning intraday low $53.75 before finding support.

Steering clear of the first major support level at $53.20, Litecoin bounced back to a late morning intraday high $55.78.

Falling short of the first major resistance level at $56.15, Litecoin slid back to an afternoon low $53.96 before moving back through to $54 levels.

At the time of writing, Litecoin was down by 0.07% to $54.68. Tracking the broader market, Litecoin rose to an early morning high $54.89 before falling to a low $54.45.

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

For the day ahead, Litecoin would need to move back through to $54.80 levels to support a run at the first major resistance level at $55.75.

Litecoin would need the support of the broader market, however, to break out from the morning high $54.95.

Barring a broad-based crypto rally, the first major resistance level and Monday high $55.78 would likely cap any upside.

Failure to move through to $54.80 levels could see Litecoin fall deeper into the red. A fall through the morning low $54.45 would bring the first major support level at $53.72 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of the second major support level at $52.72.

Ripple’s XRP back at $0.30

Ripple’s XRP fell by 0.58% on Monday. Partially reversing a 0.84% gain from Sunday, Ripple’s XRP ended the day at $0.29380.

Tracking the broader market, Ripple’s XRP fell from an early intraday high $0.29559 to a mid-morning intraday low $0.29000.

Ripple’s XRP left the major support and resistance levels untested through in spite of the pullback.

Finding support from the broader market, Ripple’s XRP rose back to an afternoon high $0.29544 before a 2nd pullback.

Ripple’s XRP managed to avoid a fall through to sub-$0.29 levels, supporting a move back through to $0.2930 levels.

At the time of writing, Ripple’s XRP was up by 2.21% to $0.30029. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29212 to a high $0.30195.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2963 and second major resistance level at $0.2987.

For the day ahead, holding onto $0.30 levels would support another run at the third major resistance level at $0.3043.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.30195.

In the event of an extended rally, $0.31 levels would likely come into play before any pullback.

Failure to hold onto $0.30 levels could see Ripple’s XRP hit reverse. A pullback through the major resistance levels would bring the first major support level at $0.2907 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.29 support levels on the day.

Please let us know what you think in the comments below

Thanks, Bob

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