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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 12/10/19

Bob Mason

Bitcoin Cash – ABC – on the Rebound

Bitcoin Cash ABC slid by 4.10% on Friday. Following on from a 3.75% decline on Thursday, Bitcoin Cash ABC ended the day at $229.62.

A choppy start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $234.68.

Falling short of the first major resistance level at $237.31, Bitcoin Cash ABC tumbled to an early evening intraday low $219.08.

The pullback saw Bitcoin Cash ABC fall through the first major support level at $227.37 and second major support level at $223.74.

Finding support late in the day, Bitcoin Cash ABC managed to recover to $220 levels.

At the time of writing, Bitcoin Cash ABC was up by 1.35% to $223.61. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $221.3 to a high $223.61.

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

For the day ahead, a move through to $224.80 levels would support a run at the first major resistance level at $230.51.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $225 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of Friday’s high $234.68.

Failure to move through to $224.80 levels could see Bitcoin Cash ABC hit reverse. A fall back through to sub-$220 would bring the first major support level at $214.91 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $209.19.

Litecoin Struggles Early

Litecoin slid by 3.15% on Friday. Following on from a 2.56% fall on Thursday, Litecoin ended the day at $55.94.

In a bullish start to the day, Litecoin rallied to an early morning intraday high $58.64 before hitting reverse.

Falling short of the first major resistance level at $59.13, Litecoin tumbled to a late intraday low $55.44.

The sell-off saw Litecoin fall through the first major support level at $56.78 and second major support level at $55.78.

Finding support in the final hour, Litecoin broke back through the second major support level at $55.78.

At the time of writing, Litecoin was up by 0.52% to $56.23. A bullish start to the day saw Litecoin rise from an early morning low $55.83 to a high $56.42 before easing back.

Litecoin left the major support and resistance levels untested.

For the day ahead, a move through to $56.70 levels would support a run at the first major resistance level at $57.91.

Litecoin would need the support of the broader market, however, to break out from $56 levels.

Barring a broad-based crypto rally, Litecoin would likely come up short of $58 levels on the day.

Failure to move through to $56.70 levels could see Litecoin hit reverse. A fall back through to $55 levels would bring the first major support level at $54.71 into play.

Barring a crypto meltdown, however, Litecoin would likely steer clear of sub-$54 support levels on the day.

Ripple’s XRP on the Move

Ripple’s XRP fell by 1.3% on Friday. Following on from a 3.66% slide on Thursday, Ripple’s XRP ended the day at $0.26818.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.27634 before hitting reverse.

Falling short of the first major resistance level at $0.2811, Ripple’s XRP slid to a late morning intraday low $0.26540.

Ripple’s XRP fell through the first major support level at $0.2642 and the second major support level at $0.2568.

Finding support at the second major support level, Ripple’s XRP recovered to an early afternoon high $0.27327 before sliding back.

At the time of writing, Ripple’s XRP was up by 2.5% to $0.27489. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.26790 to a high $0.27565.

Moves through the early morning saw Ripple’s XRP break through the first major resistance level at $0.2745.

For the day ahead, a hold above the first major resistance level would support a run at $0.28 levels later in the day.

Ripple’s XRP would need the support of the broader market, however, to break out from current levels.

Barring an extended rally through the day, the second major resistance level at $0.2809 would likely limit any upside.

Failure to hold above the first major resistance level could see Ripple’s XRP hit reverse.

A fall through the morning low $0.26790 would bring the first major support level at $0.2636 before any recovery.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day.

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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