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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rallied by 3.6% on Monday. Reversing a 3.56% slide from Sunday, Bitcoin Cash ABC ended the month down by 19.07% at $225.63.

A bearish start to the day saw Bitcoin Cash ABC slide to an early morning intraday low $212.37.

Steering clear of the first major support level at $211.72, Bitcoin Cash ABC rallied to a late afternoon intraday high $230.43.

Bitcoin Cash ABC broke through the first major resistance level at $225.83 before a late fall back to sub-$230 to limit the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.18% to $226.03. Through the early morning, Bitcoin Cash ABC rose to a morning high $226.03 to buck the trend early on.

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

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$223 levels to support another bullish day ahead.

A move back through Monday’s high $230.43 would bring the first major resistance level at $233.25 into play.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from $230.

Barring a broad-based crypto rally, resistance at $230 would likely pin Bitcoin Cash ABC back in the day.

Failure to steer clear of sub-$223 levels could see Bitcoin Cash ABC test the first major support level at $215.19.

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

Litecoin Back in the Red

Litecoin rallied by 4.06% on Monday. Reversing a 2.92% slide from Sunday, Litecoin ended the month down 12.81% at $56.09.

Bearish through the early hours, Litecoin slid to an early morning intraday low $52.51 before finding support.

Steering clear of the first major support level at $52.17, Litecoin rallied to a late afternoon intraday high $56.45.

Litecoin broke through the first major resistance level at $55.65 before falling back to $55.1 levels.

A bullish end to the day, however, saw Litecoin break back through and hold above the first major resistance level.

At the time of writing, Litecoin was down by 0.91% to $55.58. A bearish start to the day saw Litecoin fall from an early morning high $56.2 to a low $55.42.

Litecoin left the major support and resistance levels untested early.

For the day ahead, a move back through to $56 levels would bring the first major resistance level at $57.52 into play.

Litecoin would need the support of the broader market, however, to break out from Monday’s high $56.45.

Barring a broad-based crypto rebound, we would expect resistance at $56 to pin Litecoin back on the day.

Failure to move back through to $56 levels could see Litecoin fall deeper into the red. A fall through to $54 levels would bring the first major support level at $53.58 into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$52 support levels on the day.

Ripple’s XRP back at $0.25 Levels

Ripple’s XRP rallied by 7.08% on Monday. Reversing a 0.81% decline from Sunday, Ripple’s XRP ended the month down 0.14% at $0.25826.

Tracking the broader market, Ripple’s XRP slid to an early morning intraday low $0.2362 before making its move.

Finding support at the first major support level at $0.2361, Ripple’s XRP rallied to a mid-day intraday high $0.2630.

Ripple’s XRP broke through the day’s major resistance levels before falling back to an afternoon low $0.25125.

The afternoon pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2573.

Whilst avoiding a fall back through to $0.24 levels, the third major resistance level pinned Ripple’s XRP back at the day end.

At the time of writing, Ripple’s XRP was down by 0.57% to $0.25678. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.25842 to a low $0.25391 before finding support.

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 $0.26 levels to support a run at the first major resistance level at $0.2688.

Ripple’s XRP would need support from the broader market, however, to break through Monday’s high $0.2630.

Barring another broad-based crypto rally, Monday’s high $0.2630 would likely cap the upside on the day.

Failure to move back through to $0.26 levels could see Ripple’s XRP struggle through the day.

A fall through to $0.2520 levels would bring the first major support level at $0.2420 into play before any recovery.

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

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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