Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/09/19

It’s a bearish start to the day for the majors. A move back through early morning highs would signal a run at resistance levels later in the day.
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – Steadies
Bitcoin Cash ABC rose by 2.64% on Saturday. Following on from a 3.06% gain on Friday, Bitcoin Cash ABC ended the day at $226.67.

Relatively range-bound through the morning, Bitcoin Cash ABC eased back to an early afternoon intraday low $218.49.

Steering well clear of the first major support level at $211.78, Bitcoin Cash ABC rallied to a late afternoon intraday high $230.08.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $225.45 to $230 levels.

Bitcoin Cash ABC came within range of the second major resistance level at $230.89 before easing back.

At the time of writing, Bitcoin Cash ABC was down by 0.23% to $226.14. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $226.50 to a low $226.14.

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

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$225.50 levels to support a run at $230 levels.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to test the first major resistance level at $231.67.

In the event of a broad-based crypto rally, the second major resistance level at $236.67 could come into play before any pullback.

Failure to steer clear of sub-$225.50 levels would bring the first major support level at $220.08 into play before any recovery.

Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of Saturday’s low $218.49.

Litecoin Sees More Red

Litecoin fell by 0.93% on Friday. Partially reversing a 1.54% gain from Friday, Litecoin ended the day at $55.53.

Also range-bound through the morning, Litecoin fell from an early morning intraday high $56.49 to a late morning low $55.04.

Litecoin left the major support and resistance levels untested ahead of a slide to a mid-afternoon intraday low $53.86.

Holding above the first major support level at $53.47, Litecoin recovered to $56 levels before easing back into the red.

At the time of writing, Litecoin was down by 0.54% to $55.23. A range-bound start to the day saw Litecoin fall from an early morning high $55.66 to a low $55.18.

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

For the day ahead, a move back through the morning high $55.66 would bring the first major resistance level at $56.73 into play.

Litecoin would need the support of the broader market, however, to break out from Saturday’s high $56.49.

Barring a broad-based crypto rebound, Litecoin would likely come up short of $57 levels on the day.

Failure to move back through the morning high $55.66 would leave Litecoin in the red on the day. A fall back through the morning low $55.18 would bring the first major support level at $54.10 into play.

Barring a crypto meltdown, Litecoin should steer well clear of the second major support level at $52.66.

Ripple’s XRP Holds at sub-$0.25

Ripple’s XRP slipped by 0.03% on Saturday. Following on from a 0.28% fall from Friday, Ripple’s XRP ended the day at $0.2430.

A bullish start to the day saw Ripple’s XRP strike an early morning intraday high $0.2562 before hitting reverse.

Falling short of the first major resistance level at $0.2493, Ripple’s XRP slid to a mid-afternoon intraday low $0.23875.

In spite of the pullback, Ripple’s XRP held above the first major support level at $0.2353.

Finding support through the afternoon, Ripple’s XRP recovered to $0.24 levels to limit the downside on the day.

At the time of writing, Ripple’s XRP was down by 0.47% to $0.24186. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24336 to a low $0.24140.

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 $0.2425 levels to support a run at the first major resistance level at $0.2462.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.24336.

Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.25 levels for a 3rd consecutive day.

The second major resistance level at $0.2493 would likely limit any upside on the day.

Failure to move back through to $0.2425 levels could see Ripple’s XRP test the first major support level at $0.2393.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of the second major support level at $0.2356 and sub-$0.23 levels.

Please let us know what you think in the comments below

Thanks, Bob

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