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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/10/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC fell by 2.18% on Wednesday. Following on from a 3.21% slide on Tuesday, Bitcoin Cash ABC ended the day at $217.29.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $225.33 before hitting reverse.

Falling short of the first major resistance level at $227.30, Bitcoin Cash ABC slid to a late afternoon intraday low $214.19.

Bitcoin Cash ABC fell through the first major support level at $216.08 before moving back through to $217 levels.

At the time of writing, Bitcoin Cash ABC was down by 1.52% to $214.0. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $215.35 to a low $214.0.

Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, Bitcoin Cash ABC would need to move through to $219 levels to support a run at $220 levels.

Support from the broader market would be needed to support a run at the first major resistance level at $223.68.

Barring a broad-based crypto rebound, Bitcoin Cash ABC will likely come up short of Wednesday’s high $225.33.

Failure to move through to $219 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through to $213 levels would bring the first major support level at $212.54 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$210 levels.

Litecoin Back at $52 Levels

Litecoin fell by 3.76% on Wednesday. Following on from a 4.08% slide on Tuesday, Litecoin ended the day at $52.51.

A bearish start to the day saw Litecoin fall from an early morning intraday high $55.36 to an early afternoon intraday low $51.13.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $52.87.

Finding support at the second major support level at $51.17, Litecoin recovered to $52 levels late in the day.

At the time of writing, Litecoin was down by 0.86% to $52.06. Tracking the broader market, Litecoin fell from an early morning high $52.53 to a low $51.54.

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

For the day ahead, Litecoin would need to move through to $53 levels to support a run at the first major resistance level at $54.87.

Litecoin would need the support of the broader market, however, to break out from the morning high $52.53.

Barring an extended crypto rebound, Litecoin will likely fall short of $55 levels on the day.

Failure to move through to $53 levels could see Litecoin slide deeper into the red.

A fall through the morning low $51.54 would bring the first major support level at $50.64 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$50 support levels.

Ripple’s XRP Recovers to $0.28 Levels

Ripple’s XRP fell by 1.76% on Wednesday. Following on from a 3.14% slide on Tuesday, Ripple’s XRP ended the day at $0.28436.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.29276 before hitting reverse.

Falling short of the first major resistance level at $0.02982, Ripple’s XRP fell to an early afternoon intraday low $0.27919.

Ripple’s XRP fell through the first major support level at $0.2813 before recovering to $0.28 levels late in the day.

At the time of writing, Ripple’s XRP was down by 1.05% to $0.28138. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.28514 to a low $0.28057.

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

For the day ahead, Ripple’s XRP would need to move through to $0.2854 levels to bring the first major resistance level at $0.2917 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through the morning high.

Barring a broad-based crypto rally, Ripple’s XRP will likely fall short of the second major resistance level at $0.2990.

Failure to move through to $0.2854 levels could see Ripple’s XRP fall deeper into the red.

A fall through the morning low $0.28057 would bring the first major support level at $0.2781 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2719.

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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