Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/09/19

It’s another bearish start to the day for the majors. Support levels will be in play should sentiment not shift by late morning…
Bob Mason
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Bitcoin Cash – ABC – Sees Red again…

Bitcoin Cash ABC fell by 1.21% on Sunday. Following on from a 1.24% decline on Saturday Bitcoin Cash ABC ended the day at $310.99.

A third consecutive day in the red left Bitcoin Cash ABC up by just 0.8% for the week.

Bearish from the start of the day, Bitcoin Cash ABC slid from an early morning intraday high $309.51 to an early morning low $303.77.

The sell-off saw Bitcoin Cash ABC fall through the first major support level at $308.41 and second major support level at $305.83.

Finding support through the late morning, Bitcoin Cash ABC recovered to $308 levels before sliding back through the second major support level.

The second sell-off saw Bitcoin Cash ABC slide to a late afternoon intraday low $303 before finding support.

In spite of the late support, the second major support level at $305.76 pinned Bitcoin Cash ABC back at the day end.

At the time of writing, Bitcoin Cash ABC was down by 0.67% to $303.72. Another bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $305.29 to a low $303.27.

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

For the day ahead, a move through the morning high to $306 levels would support a run at the first major resistance level at $309.18.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from this morning’s high $305.29.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $309.51 would likely limit any upside.

Failure to move through to $306 levels could see Bitcoin Cash ABC spend a 4th consecutive day in the red.

A fall through the first major support level at $302.67 would bring sub-$300 and the second major support level at $299.58 into play.

Litecoin Sees More Red

Litecoin fell by 1.27% on Sunday. Following on from a 2.52% slide on Saturday, Litecoin ended the day at $72.26.

In spite of 4 consecutive days in the red, Litecoin gained 3.02% for the week.

A particularly bearish start to the day saw Litecoin slide from an early morning intraday high $73.25 to an intraday low $71.02.

The reversal saw Litecoin fall through the first major support level at $71.65.

Finding support from the broader market, Litecoin recovered to $72.8 levels before sliding back to an afternoon low $71.37.

Litecoin fell back through the first major support level before a late recovery. The late recovery to $72 levels limited the downside on the day.

At the time of writing, Litecoin was down by 0.61% to $71.82. Another bearish start to the day saw Litecoin slide from a morning high $72.51 to a low $71.57.

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

For the day ahead, Litecoin would need to move back through to $72.10 levels to support a run at the first major resistance level at $73.09.

Litecoin would need the support of the broader market, however, to break out from Sunday’s high $72.89.

Barring a broad-based crypto rebound, resistance at S73  would likely pin Litecoin back on the day.

Failure to break through to $72.10 levels could see Litecoin slide for a 5th consecutive day. A fall back through the morning low would bring the first major support level at $71.22 into play.

Barring an extended sell-off, however, we would expect the second major support level at $70.19 to limit any downside on the day.

Ripple’s XRP Gives up on $0.28 Levels

Ripple’s XRP slid by 4.54% on Sunday. Following on from a 1.36% fall on Saturday, Ripple’s XRP ended the day at $0.2772.

Ripple’s XRP rose by 6.21% in the week, the upside coming in spite of 4 consecutive days in the red.

It was bearish through most of the day on Sunday. Ripple’s XRP slid from an early morning intraday high $0.29050 to a late afternoon intraday low $0.26853.

Ripple’s XRP slid through the first major support level at $0.2856 and second major support level at $0.2806.

Finding support in the late afternoon, Ripple’s XRP recovered to $0.2790 levels. Ripple’s XRP was unable to break back through to $0.28 levels, however.

At the time of writing, Ripple’s XRP was down by 0.79% to $0.2750. Bearish through the early hours, Ripple’s XRP fell from a morning high $0.27795 to a low $0.27338.

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

For the day ahead, a move through to $0.28 levels would be needed to bring the first major resistance level at $0.2871 into play.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.27795.

Barring a broad-based crypto rally, the first major resistance level would likely pin Ripple’s XRP back in the day.

Failure to move through to $0.28 levels could see Ripple’s XRP spend a 5th consecutive day in the red.

A fall through the morning low $0.27338 would bring the first major support level at $0.2705 into play.

Barring a crypto meltdown, we would expect Ripple’s XRP to steer clear of the second major support level at $0.2638.

Please let us know what you think in the comments below

Thanks, Bob

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