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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/09/19

Bob Mason

Bitcoin Cash – ABC – Struggles at $300

Bitcoin Cash ABC fell by 0.63% on Friday. Reversing a 0.37% gain from Thursday, Bitcoin Cash ABC ended the day at $298.55.

Bearish through the morning, Bitcoin Cash ABC fell from an early morning intraday high $300.71 to an early afternoon intraday low $294.33.

While falling short of the first major resistance level at $303.98, Bitcoin Cash ABC fell through the first major support level at $296.05.

Finding late support, Bitcoin Cash ABC recovered to $298 levels to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was down by 0.36% to $297.48. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $298.94 before falling to a low $297.48.

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

For the day ahead, a move back through to $298 would support a run at the first major resistance level at $300.97.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $300 levels.

Barring a broad-based crypto rebound, Friday’s high $300.7 and first major resistance level would likely limit any upside.

Failure to move back through to $298 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $296 levels would bring the first major support level at $294.76 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 levels. The second major support level at $291.52 should limit any downside on the day.

Litecoin Sees More Red

Litecoin fell by 0.16% on Friday. Following on from a 0.80% decline on Thursday, Litecoin ended the at $69.09.

A bearish start to the day saw Litecoin tumble from an early morning intraday high $69.69 to a late afternoon intraday low $67.10.

Falling short of the major resistance levels, Litecoin fell through the first major support level at $68.38 and second major support level at $67.48.

Finding support from the broader market, a late recovery to $69 levels limited the downside on the day.

At the time of writing, Litecoin was down by 0.33% to $68.86. Tracking the broader market, Litecoin fell from an early morning high $69.49 to a low $68.49 before finding support.

Litecoin steered clear of the major support and resistance levels early on.

For the day ahead, holding above $68.60 levels through the morning would support another run at the first major resistance level at $70.15.

Litecoin would need the support of the broader market, however, to break out from this morning’s high $69.49 and Friday’s high $69.69.

Barring a broad-based crypto rebound, however, we would expect Litecoin to continue to fall short of $70 levels.

Failure to hold above $68.60 levels could see Litecoin take a bigger hit on the day. A fall through to $68.20 levels would bring the first major support level at $67.56 into play.

We would expect Litecoin to steer clear of sub-$67 support levels, however.

Ripple’s XRP Back in the Red

Ripple’s XRP rose by 0.55% on Friday. Reversing a 0.29% fall from Thursday, Ripple’s XRP ended the day at $0.25615.

A choppy start to the day saw Ripple’s XRP rise to a mid-morning high $0.25660 before hitting reverse.

Falling short of the first major resistance level at $0.2578, Ripple’s XRP fell to a late morning intraday low $0.25265. Ripple’s XRP came within range of the first major support level at $0.2520 before rallying to a late afternoon intraday high $0.25669.

Falling short of the major resistance levels, Ripple’s XRP fell back to $0.2530 levels before late support kicked in.

At the time of writing, Ripple’s XRP was down by 0.30% to $0.25539. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25650 before falling to a low $0.25508.

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

For the day ahead, a move back through to $0.2560 levels would support a run at the first major resistance level at $0.2577.

Ripple’s XRP would need the support of the broader market, however, to break out from Friday’s high $0.25669.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.26 levels for a 3rd consecutive day. The second major resistance level at $0.2592 would limit any major moves on the day.

Failure to move back through to $0.2560 levels could see Ripple’s XRP slide deeper into the red. A fall through the morning low $0.25508 would bring the first major support level at $0.2520 into play.

Barring a crypto meltdown, we would expect Ripple’s XRP to steer clear of sub-$0.25 levels. The second major support level at $0.2511 would limit any downside 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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