Bitcoin Cash, Litecoin and Ripple Daily Analysis – 22/10/18

Bitcoin Cash Flat

Bitcoin Cash gained just 0.07% on Sunday, following on from Saturday’s 1.99% rise, to end the week up 2.71% at $455.6.

Following an early morning break through the first major resistance level at $462.17, with a morning high $463.1, Bitcoin Cash pulled back to $450 levels ahead of a choppy afternoon that saw Bitcoin Cash break back through the first major resistance level to an intraday high $466.5. Unable to hold on to $460 levels, Bitcoin Cash reversed late in the day to an intraday low $454.1, Bitcoin Cash managing to hold above the day’s first major support level at $445.47.

At the time of writing, Bitcoin Cash was up 0.41% to $458.0, with moves through the early morning seeing Bitcoin Cash rise from a start of a day morning low $454.6 to a morning high $458.5 leaving the day’s major support and resistance levels untested.

For the day ahead, a move back through the morning high to $459 levels would support a run at the first major resistance level at $463.37 to bring $470 levels into play before any reversal, with Bitcoin Cash needing to hold on to $458 through the morning to support a run at $470 levels later in the day.

Failure to hold on to $458 levels through the morning high to $460 levels could see Bitcoin Cash hit reverse later in the day, with a pullback through the morning low $454.6 bringing the day’s first major support level at $450.97 and sub-$450 support levels into play.

Litecoin Falls Back

Litecoin fell by 1.29% on Sunday, reversing Saturday’s 0.59% gain, to end the week up 1.52% at $52.15.

Tracking the broader market through the day, Litecoin hit an early morning intraday high $53.11 before reversing through the morning to a morning low $52.41, the day’s major support and resistance levels left untested. A late in the day sell-off that saw Litecoin fall through the first major support level at $52.26 to an intraday low $52.03 before steadying.

At the time of writing, Litecoin was up 0.27% to $52.37, with Litecoin rising from a start of a day morning low $51.82 to a morning high $52.44, Litecoin coming within range of the first major support level at $51.75 before moving back through to $52 levels.

For the day ahead, a move through $52.45 would support a run at the day’s first major resistance level at $52.83 to bring $53 levels into play, while we would expect Litecoin to continue falling short of $54 levels, the day’s second major resistance level at $53.51 likely to pin Litecoin back in the event of a breakout.

Failure to move through $52.45 by the early afternoon could see Litecoin hit reverse, with a pullback to $51 levels bringing the day’s first major support level at $51.75 back into play, with any broad based market sell-off likely to see Litecoin test the day’s second major support level at $51.35 before any recovery.

Ripple Struggles to Break Out

Ripple’s XRP fell by 0.65% on Sunday, partially reversing Saturday’s 1.43% gain, to end the week up 13.39% at $0.4644.

An early morning rally saw Ripple’s XRP strike an intraday high $0.47809, breaking through the first major resistance level at $0.4756 before easing back, with a second attempt at a breakout in the late morning seeing Ripple’s XRP hit by resistance at the first major resistance level, leading to a reversal through the rest of the day.

Ripple’s XRP slid through the afternoon to a late in the day intraday low $0.463 before steadying, the day’s major support levels left untested as Ripple’s XRP held on to $0.46 levels.

At the time of writing, Ripple’s XRP was up 0.5% to $0.46701, a relatively range bound start to the day seeing Ripple’s XRP rise from a morning low $0.463 to a morning high $0.46701, the day’s major support and resistance levels left untested early on.

For the day ahead, a move through to $0.4685 would support a run at $0.47 levels to bring the day’s first major resistance level at $0.474 into play, with any broad based market rally supporting a breakout to $0.48 levels before any pullback.

Failure to move through to $0.4685 by late morning could see Ripple’s XRP give up the early morning gains, with a move back through the morning low $0.463 bringing $0.45 levels and the day’s first major support level at $0.4589 into play. Ripple’s XRP could come under pressure following last week’s solid gain should a broad based market reversal kick in, which would bring the day’s second major support level at $0.4534 into play before any recovery.

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