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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 16/09/19

Bob Mason

Bitcoin Cash – ABC – Holds onto $300

Bitcoin Cash ABC fell by 0.88% on Sunday. Partially reversing a 2.15% rise from Saturday, Bitcoin Cash ABC ended the week down 0.88% at $302.3.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $307 before easing back.

Falling short of the first major resistance level at $308.79, Bitcoin Cash ABC eased back to a mid-day low $302.49.

Steering clear of the major support levels, Bitcoin Cash ABC recovered to $306 levels before sliding back to a late intraday low $302.0.

In spite of the pullback, Bitcoin Cash ABC steered clear of sub-$300 levels and the first major support level at $297.03.

At the time of writing, Bitcoin Cash ABC was up by 0.93% to $305.12. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $303.33 to a high $305.12.

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

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$304 levels to support another run at the first major resistance level at $305.53.

Bitcoin Cash ABC would need the support of the broader market, however, to take a run at Sunday’s high $307.

Barring an extended rally, Bitcoin Cash ABC would likely come up short of the second major resistance level at $308.77.

Failure to steer clear of sub-$304 levels could see Bitcoin Cash ABC test the first major support level at $300.53 before any recovery.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $298.77.

Litecoin Makes a Move

Litecoin fell by 0.71% on Sunday. Partially reversing a 2.2% decline from Saturday, Litecoin ended the week down 0.44% at $70.14.

A bullish start to the day saw Litecoin strike an early morning intraday high $71.47 before pulling back.

Falling short of the first major resistance level at $71.95, Litecoin fell to an early afternoon intraday low $69.71.

Steering clear of the first major support level at $68.80, Litecoin recovered to $70 levels late on to limit the downside on the day.

At the time of writing, Litecoin was up by 2.65% to $72.0. A particularly bullish start to the day saw Litecoin rally from an early morning low $70.08 to a high $72.06.

Litecoin broke through the first major resistance level at $71.17 to come within range of the second major resistance level at $72.20.

For the day ahead, holding above the first major resistance level would bring the second major resistance level back into play.

Litecoin would need the support of the broader market, however, to break out from the second major resistance level at $72.2.

In the event of an extended crypto rally, the third major resistance level at $73.96 would likely come into play.

Failure to hold above the first major resistance level could see Litecoin give up the morning gains. A fall through to $70.40 levels would bring the first major support level at $69.41 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$69 support levels on the day.

Ripple’s XRP Finds Support

Ripple’s XRP fell by 0.56% on Sunday. Partially reversing a 2.34% gain from  Saturday, Ripple’s XRP ended the week down 0.63% at $0.26114.

A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.26181 before striking a late morning intraday high $0.2650.

Falling short of the first major resistance level at $0.2675, Ripple’s XRP slid to a late afternoon intraday low $0.25915.

In spite of the pullback, Ripple’s XRP steered clear of the first major support level at $0.2561. Finding support from the broader market, Ripple’s XRP moved back through to $0.26 levels late on.

At the time of writing, Ripple’s XRP was up by 1.01% to $0.26378. Tracking the broader market, Ripple’s XRP rose from an early morning low $0.26099 to a high $0.2640.

Steering clear of the major support levels, Ripple’s XRP came within range of the first major resistance level at $0.2644.

For the day ahead, a breakthrough the first major resistance level would give Ripple’s XRP a run at the second major resistance level at $0.2676.

Ripple’s XRP would need the support of the broader market, however, to break out from Sunday’s high $0.2650.

Barring an extended rally, the first major resistance level, and Sunday’s high would likely cap any upside.

Failure to break through the first major resistance level could see Ripple’s XRP come under pressure.
A fall through the morning low $0.26099 would bring the first major support level at $0.2585 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2559.

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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