Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/09/19

It’s back into the red for the majors, with this week’s sell-off leaving the pack deep in the red for September.
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Struggles at $220

Bitcoin Cash ABC slid by 3.56% on Sunday.  Reversing a 2.64% gain from Saturday, Bitcoin Cash ABC ended the week down by 28.45% at $218.44.

A particularly bearish start to the day saw Bitcoin Cash ABC slide from an early intraday high $226.5 to an early afternoon intraday low $212.39.

Falling short of the major resistance levels, Bitcoin Cash ABC slid through the first major support level at $220.08.

The second major support level at $213.39 limited the downside and deliver support in the afternoon.

Through the 2nd half of the day, Bitcoin Cash ABC managed to recover to $220 levels before easing back in the final hour.

At the time of writing, Bitcoin Cash ABC was down by 0.38% to $217.61. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $217.8 to a low $216.7.

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

For the day ahead, a move through to $219 levels would support a run at the first major resistance level at $225.83.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $218.5 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of Sunday’s high $226.5.

Failure to move through to $219 levels would see Bitcoin Cash ABC spend another day in the red. A fall through the morning low to $215 levels would bring the first major support level at $211.72 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$210 support levels on the day.

Litecoin in the Red

Litecoin fell by 2.92% on Saturday. Following on from a 0.93% decline on Friday, Litecoin ended the week down by 25.38% at $53.91.

Tracking the broader market through the morning, Litecoin slid from an early morning intraday high $55.66 to a mid-afternoon intraday low $52.18.

Falling short of the major resistance levels, Litecoin fell through the first major support level at $53.47 and second major support level at $52.66

Through the 2nd half of the day, Litecoin broke back through the major support levels to a high $54.98 before easing back.

The late pullback saw Litecoin fall back through the first major support level at $54.10.

At the time of writing, Litecoin was down by 0.06% to $53.88. A mixed start to the day saw Litecoin fall from an early morning high $54.24 to a low $53.56.

Litecoin left the major support and resistance levels untested early.

For the day ahead, a move back through to $54 levels would bring the first major resistance level at $55.65 into play.

Sentiment across the broader market would need to improve, however, for Litecoin to break through to $55 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $55.66 would likely limit any upside.

Failure to move through to $54 levels would see Litecoin spend a 3rd consecutive day in the red.

A fall through to $53.20 levels would bring the first major support level at $52.17 into play before any recovery.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$51 support levels.

Ripple’s XRP gives up $0.24 again…

Ripple’s XRP fell by 0.81% on Sunday. Following a 0.03% decline on Saturday, Ripple’s XRP ended the week down 13% at $0.24114.

Also bearish through the morning, Ripple’s XRP slid from an early morning intraday high $0.24336 to a mid-afternoon intraday low $0.23480.

Falling short of the major resistance levels, Ripple’s XRP slid through the first major support level at $0.2393.

Finding support at the second major support level at $0.2356, Ripple’s XRP broke back through the first major support level to $0.2430 levels.

A late pullback left Ripple’s XRP in the red on the day.

At the time of writing, Ripple’s XRP was down by 0.49% to $0.23996. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24145 to a low $0.23828.

Steering clear of the major resistance levels, Ripple’s XRP came within range of the first major support level at $0.2361.

For the day ahead, a move back through to $0.24 levels would support a run at the first major resistance level at $0.2449.

Ripple’s XRP would need the support of the broader market, however, to break out from Sunday’s high $0.24354.

Barring a crypto rally later in the day, Ripple’s XRP would likely fall short of $0.25 levels for a 4th consecutive day.

Failure to move back through to $0.24 levels could see Ripple’s XRP test the first major support level at $0.2361 before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2311.

Please let us know what you think in the comments below

Thanks, Bob

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