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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 28/10/19

Bob Mason

Bitcoin Cash – ABC – On the Move

Bitcoin Cash ABC rose by 2.45% on Sunday. Reversing a 2.14% fall on Saturday, Bitcoin Cash ABC ended the week up 16.8% at $261.26.

A mixed start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $246.65 before making a move.

Steering clear of the first major support level at $236.18, Bitcoin Cash ABC rallied to a late afternoon intraday high $269.5.

Coming up short of the first major resistance level at $277.88, Bitcoin Cash ABC eased back to $260 levels before wrapping up the day at $261 levels.

At the time of writing, Bitcoin Cash ABC was up by 1.22% to $264.44. A bullish start to the day saw Bitcoin Cash ABC rally to an early morning high $275.25 before falling to a low $261.15.

Bitcoin Cash ABC broke through the first major resistance level at $271.62 and 23.6% FIB of $273 before easing back.

In spite of the pullback, Bitcoin Cash ABC steered well clear of the major support levels.

For the day ahead, a break back through the first major resistance level would support another run at the 23.6% FIB.

Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $270 levels.

Barring an extended rally through the day, the first major resistance level at $271.62 would likely limit any upside.

Failure to break back through the first major resistance level could lead to a pullback later in the day.

A fall through to sub-$260 levels would bring the first major support level at $248.77 into play before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$240 levels on the day.

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Litecoin Sees Red

Litecoin rallied by 5.31% on Sunday. Following a 0.16% fall on Saturday, Litecoin ended the week up 9.01% to $59.91.

A bearish start to the day saw Litecoin fall to an early morning intraday low $55.77 before finding support from the broader market.

Steering clear of the first major support level at $52.55, Litecoin rallied to a late afternoon intraday high $62.96.

Litecoin broke through the first major resistance level at $62.81 before sliding back to sub-$60 levels late in the day.

At the time of writing, Litecoin was down by 0.62% to $59.54. A choppy start to the day saw Litecoin rally to an early morning high $62.71 before hitting reverse.

Falling short of the first major resistance level at $63.32, Litecoin fell to a morning low $58.41. Litecoin left the major support levels untested early on.

For the day ahead, Litecoin would need to move through to $59.60 levels to support a return to $60 levels.

Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $63.32.

Failure to move through to $59.60 levels could see Litecoin fall deeper into the red. A fall back through to $58 levels would bring the first major support level at $56.13 into play before any recovery.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$56 levels.

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Ripple’s XRP Recovers to $0.30 Levels

Ripple’s XRP rose by 1.59% on Sunday. Reversing a 1.48% decline from Saturday, Ripple’s XRP ended the week up 1.42% at $0.2997.

A choppy start to the day saw Ripple’s XRP fall to an early intraday low $0.291 before striking an early morning intraday high $0.30344.

In spite of the early moves, Ripple’s XRP left the major support and resistance levels untested.

A pullback to $0.2920 levels by late morning was short-lived, with Ripple’s XRP finding support from the broader market.

Upward momentum through the 2nd half of the day delivered the upside for the day and for the week.

At the time of writing, Ripple’s XRP was up by 0.5% to $0.30119. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.29790 to a high $0.30648 before easing back.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3051.

For the day ahead, a move back through the first major resistance level at $0.3051 would support a run at $0.31 levels.

Ripple’s XRP would need support from the broader market, however, to break out from the morning high $0.30648.

Barring an extended rally through the day, however, the first major resistance level would likely limit any upside.

Failure to move back through the first major resistance level could see Ripple’s XRP hit reverse.

A fall back through to sub-$0.2980 levels would bring the first major support level at $0.2927 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.29 support levels on the day.

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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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