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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 20/10/19

Bob Mason

Bitcoin Cash – ABC – Hits Reverse

Bitcoin Cash ABC rose by just 0.04% on Saturday. Following a 3.92% slide on Friday, Bitcoin Cash ABC ended the day at $211.77.

A choppy start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $210.81 before finding support.

Steering clear of the first major support level at $206.99, Bitcoin Cash ABC struck an early morning intraday high $215.53.

Bitcoin Cash ABC fell short of the first major resistance level at $217.81 before easing back.

A mixed afternoon saw Bitcoin Cash ABC slide back to $211 levels before finding support to strike an early afternoon high $215.

Bearish sentiment across the broader market ultimately weighed, however, with Bitcoin Cash ABC ending the day at $211 levels.

At the time of writing, Bitcoin Cash ABC was up by 0.11% to $212.0. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $211.31 to a high $212.06.

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

For the day ahead, a move through to $212.70 levels would bring the first major resistance level at $214.60 into play.

Bitcoin Cash ABC would need the support of the broader market to break out from $213 levels.

Barring a broad-based crypto rally, however, the first major resistance level and Saturday’s high $215.53 should limit any upside.

Failure to move through to $212.70 levels could see Bitcoin Cash ABC hit reverse.

A fall back through to $211.50 levels would bring the first major support level at $209.88 into play.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $207.98.

Litecoin Back at $53 Levels

Litecoin rose by 0.94% on Saturday. Partially reversing a 3.02% slide from Friday, Litecoin ended the day at $53.81.

A mixed start to the day saw Litecoin rise to a morning high $53.71 before sliding to an early afternoon intraday low $52.58.

Steering clear of the first major support level at $51.95, Litecoin rose to a late afternoon intraday high $54.14.

Falling short of the first major resistance level at $54.83, Litecoin fell back to $53 levels.

At the time of writing, Litecoin was down by 1.06% to $53.24. A bearish start to the day saw Litecoin fall from an early morning high $53.89 to a low $53.04.

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

For the day ahead, Litecoin would need to move through to $53.50 levels to support a run at the first major resistance level at $54.44.

Support from the broader market would be needed, however, for Litecoin to breakout from Saturday’s high $54.14.

Barring a broad-based crypto rally, Litecoin would likely come up short of $55 levels for a 2nd consecutive day.

Failure to move through to $53.50 levels could see Litecoin fall deeper into the red. A fall through the morning low $53.04 would bring the first major support level at $52.88 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of the second major support level at $51.95.

Ripple’s XRP Back At $0.28 Levels

Ripple’s XRP fell by 0.79% on Saturday. Following on from a 2.41% decline on Friday, Ripple’s XRP ended the day at $0.29307.

A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.29045 to a late morning intraday high $0.30094.

Ripple’s XRP came within range of the first major resistance level at $0.3035 before sliding to a late afternoon intraday low $0.28856.

Finding support at the first major support level at $0.2862, Ripple’s XRP recovered to $0.29 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was down by 1.98% to $0.28728. A particularly bearish start to the day saw Ripple’s XRP slide from an early morning high $0.29353 to a low $0.2830.

Steering clear of the major resistance levels Ripple’s XRP fell through the first major support level at $0.2874.

For the day ahead, Ripple’s XRP would need to move back through the first major support level to bring $0.2900 levels into play.

Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the first major resistance level at $0.2998.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of the second major resistance level at $0.3066.

Failure to move back through to $0.29 levels could see Ripple’s XRP spend another day in the red. A fall back through the morning low $0.2830 would bring the second major support level at $0.2818 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.28 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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