Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/09/19

Fibo Quantum

Bitcoin Cash – ABC – Back in the Red

Bitcoin Cash ABC slipped by 0.36 on Wednesday. Following on from a 25% slump from Tuesday, Bitcoin Cash ABC ended the day at $227.8.

A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $234.02.

Falling well short of the first major resistance level at $270.75, Bitcoin Cash ABC slid to a late afternoon intraday low $216.7.

In spite of the reversal, Bitcoin Cash ABC steered clear of the first major support level at $188.71. Perhaps more significantly was a hold onto $200 levels throughout the day.

Finding support late in the day, Bitcoin Cash ABC broke back through to $220 levels. The recovery was not enough to avoid a 6th consecutive day in the red, however.

At the time of writing, Bitcoin Cash ABC was down by 1.97% to $223.31. A mixed start to the day saw Bitcoin Cash ABC fall from an early morning high $225.54 to a low $223.31

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 the morning high to $226.5 levels to support a run at $230 levels.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Wednesday’s high $234.02.

In the event of a breakout, the first major resistance level at $236.65 would likely pin Bitcoin Cash ABC back in the day.

Failure to move through to $226.50 levels could see Bitcoin Cash ABC see red for a 7th consecutive day.

A fall through to sub-$220 would bring the first major support level at $218.33 into play.

Litecoin Fails to Recover to $60

Litecoin rallied by 3.68% on Wednesday. Partially reversing a 16.5% tumble Tuesday, Litecoin ended the day at $57.53.

A bullish start to the day saw Litecoin rise to an early morning high $57.98 before hitting reverse.

Falling short of the first major resistance level at $63.51, Litecoin slid to a late morning intraday low and new swing lo $53.06.

Steering clear of the first major support level at $51.34, Litecoin rallied to a late intraday high $58.61 before easing back.

In spite of the late rally, Litecoin failed to come within range of the major resistance levels on the day.

At the time of writing, Litecoin was down by 2.45% to 56.12. A bearish start to the day saw Litecoin slide from an early morning high $57.63 to a low $56.00.

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

For the day ahead, a move back through the morning high would support a run at the first major resistance level at $59.74.

Litecoin would need the support of the broader market, however, to break out from $58 levels.

Barring a broad-based crypto rebound, Litecoin would likely fail to touch $60 for a second consecutive day.

Failure to move back through the morning high could see Litecoin reverse Wednesday’s gains.

A fall through to $55 levels would bring the first major support level at $54.19 into play before any recovery.

Barring a crypto meltdown, Litecoin should steer clear of sub-$53 levels on the day.

Ripple’s XRP back at $0.24 Levels

Ripple’s XRP rallied by 2.75% on Wednesday. Partially reversing Tuesday’s 12.85% slide, Ripple’s XRP ended the day at $0.2466.

Finding support from the broader market, Ripple’s XRP rose from an early morning intraday low $0.23381 to an early morning high $0.24427.

Falling well short of the first major resistance level at $0.2670, Ripple’s XRP fell back to $0.23 levels before making a move.

Steering clear of the major support levels, Ripple’s XRP rallied to a late afternoon intraday high $0.25073.

Resistance at $0.25 levels pinned Ripple’s XRP back, however, to limit the upside on the day.

At the time of writing, Ripple’s XRP was down by 1.65% to $0.24253. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.24718 to a low $0.24244.

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

For the day ahead, a move through to $0.2440 levels would support a run at the first major resistance level at $0.2541.

Ripple’s XRP would need the support of the broader market, however, to break out from Wednesday’s high $0.25073.

In the event of a broad-based crypto rally, the second major resistance level at $0.2616 could come into play.

Failure to move through to $0.2440 levels could see Ripple’s XRP struggle through the day.

A fall through to $0.2410 levels would bring the first major support level at $0.2358 into play.

Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.23 support levels 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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