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

Bob Mason

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.

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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

This article was originally posted on FX Empire

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