U.S. Markets closed

Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/10/19

Bob Mason

Bitcoin Cash – ABC – Rebounds

Bitcoin Cash ABC rallied by 5.72% on Sunday. Following on from a 0.04% gain on Saturday, Bitcoin Cash ABC ended the week up 0.41% at $224.19.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $211.28 before making a move.

Steering clear of the first major support level at $209.88, Bitcoin Cash ABC rallied to a late intraday high $225.52.

Bitcoin Cash ABC broke through the day’s major resistance levels to hit $220 levels for the first time since Thursday.

At the time of writing, Bitcoin Cash ABC was up by 0.23% to $224.70. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $223.70 to a high $225.15 before easing back.

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

For the day ahead, a move back through to $225 levels would bring the first major resistance level at $229.38 into play.

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 $230 levels on the day.

Failure to move back through to $225 levels could see Bitcoin Cash ABC slide back into the red.

A fall through the morning low $223.70 to $220 levels would bring the first major support level at $215.14 into play.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$210 levels on the day.

Litecoin Back at $54 Levels

Litecoin rose by 2.06% on Sunday. Following on from a 0.94% gain on Saturday, Litecoin ended the week down by 2.67% to $54.96.

A bearish start to the day saw Litecoin slide to a late morning intraday low $52.64 before finding support.

Litecoin fell through the first major support level at $52.88 before rallying to a late intraday high $55.59.

Off the back of an afternoon rally, Litecoin broke through the first major resistance level at $54.44 and second major resistance level at $55.07.

A late pullback saw Litecoin fall back through to sub-$55 levels.

At the time of writing, Litecoin was down by 0.89% to $54.47. A bearish start to the day saw Litecoin fall from an early morning high $54.96 to a low $54.22 before finding support.

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

For the day ahead, a move through to $55 levels would support a run at the first major resistance level at $56.15.

Support from the broader market would be needed, however, for Litecoin to breakout from Sunday’s high $55.59.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

Failure to move through to $55 levels could see Litecoin slide deeper into the red.

A fall through the morning low $54.22 would bring the first major support level at $53.20 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of the second major support level at $51.45.

Ripple’s XRP Holds at $0.29 Levels

Ripple’s XRP rose by 0.84% on Friday. Reversing a 0.79% loss from Saturday, Ripple’s XRP ended the week up by 6.25% at $0.29521.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.283.

Ripple’s XRP fell through the first major support level at $0.2874 before finding support from the broader market.

Bullish through the rest of the day, Ripple’s XRP rallied to a late intraday high $0.29773.

Falling short of the first major resistance level at $0.2998, Ripple’s XRP eased back to $0.2950 levels to limit the upside on the day.

At the time of writing, Ripple’s XRP was down 1.52% to $0.29072. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29559 to a low $0.29003.

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

For the day ahead, Ripple’s XRP would need to move back through to $0.2920 levels to support a rebound.

Support from the broader market would be needed, however, for Ripple’s XRP to take a run at the first major resistance level at $0.3010.

Barring a broad-based crypto rebound, Sunday’s high $0.29773 and first major resistance level would likely limit any upside.

Failure to move through to $0.2920 levels would likely see Ripple’s XRP test the first major support level at $0.2862.

Barring an extended sell-off through the day, Ripple’s XRP should steer clear of sub-$0.28 support levels.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: