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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/09/19

Bob Mason

Bitcoin Cash – ABC – Continues to Slide

Bitcoin Cash ABC slid by 4.8% on Thursday. Following on from a 0.36% decline on Wednesday, Bitcoin Cash ABC ended the day at $214.71.

A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $222.2 before recovering to $225 levels.

Bitcoin Cash ABC steered clear of the major support and resistance levels ahead of an afternoon broad-based crypto sell-off.

The sell-off saw Bitcoin Cash ABC slide to a late afternoon intraday low and new swing lo $203. Bitcoin Cash ABC fell through the first major support level at $218.33 and second major support level at $208.85.

Finding support late in the day, Bitcoin Cash ABC broke back through the second major support level to visit $215 levels before easing back.

At the time of writing, Bitcoin Cash ABC was down by 1.26% to $212.0. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $213.47 to a low $212.0.

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

For the day ahead, a move through to $214.5 levels would support a run at $220 levels later in the day.

Bitcoin Cash ABC would need the support of the broader market, however, to test the first major resistance level at $225.83.

In the event of a broad-based crypto rebound, the first major resistance level and Thursday’s high $225.54 would likely limit any upside.

Failure to move through to $214.5 levels would see Bitcoin Cash ABC spend an 8th consecutive day in the red.

A fall through to sub-$210 levels would bring the first major support level at $203.29 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $191.88.

Litecoin Falls Deeper into the Red

Litecoin fell by 4.03% on Thursday. Reversing a 3.68% rally from Wednesday, Litecoin ended the day at $55.21.

A bearish start to the day saw Litecoin fall from an early morning intraday high $57.63 to an early morning low $55.84.

Steering clear of the major support and resistance levels, Litecoin recovered to $57 levels before the afternoon sell-off.

The sell-off saw Litecoin slide to a late afternoon intraday low and new swing lo $50.25.

Litecoin fell through the first major support level at $54.19 and second major support level at $50.85.

Finding support at $50, Litecoin broke back through the major support levels to limit the downside on the day.

At the time of writing, Litecoin was down by 1.59% to $54.33. A bearish start to the day saw Litecoin fall from an early morning high $55.45 to a low $54.18.

Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move back through to $55 levels would support a run at the first major resistance level at $58.48.

Litecoin would need the support of the broader market, however, to break out from this morning’s high $55.45.

Barring a broad-based crypto rally, Thursday’s high $57.63 would likely cap any upside on the day.

Failure to move back through to $55 levels could see Litecoin test the first major support level at $51.1 before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of sub-$50 support levels on the day.

Ripple’s XRP back at sub-$0.24

Ripple’s XRP fell by 1.36% on Thursday. Partially reversing a 2.75% rally from Wednesday, Ripple’s XRP ended the day at $0.24364.

Bearish early on, Ripple’s XRP fell to an early morning low $0.24142 before striking a late morning intraday high $0.25073.

Ripple’s XRP left the major support and resistance levels untested ahead of the afternoon crypto meltdown.

The meltdown saw Ripple’s XRP slide to a late afternoon intraday low $0.22892 before finding support.

Ripple’s XRP fell through the first major support level at $0.2359 to visit $0.22 levels before finding support from the broader market.

The support from the broader market led Ripple’s XRP back through to $0.24 levels late in the day.

At the time of writing, Ripple’s XRP was down by 1.21% to $0.24070. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.24474 to a low $0.23785 before finding support.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move through to $0.2450 levels would support a run at the first major resistance level at $0.2533.

Ripple’s XRP would need the support of the broader market, however, to break through to $0.25 levels.

Barring a crypto rebound later in the day, we would expect Ripple’s XRP to come up short of Thursday’s high $0.25073.

Failure to move through to $0.2450 levels could see Ripple’s XRP fall further back into the red.

A fall back through to $0.23 levels would bring the first major support level at $0.2315 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2193.

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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