Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/09/19

Fibo Quantum

Bitcoin Cash – ABC – Slumps again…

Bitcoin Cash ABC slumped by 25% on Tuesday. Following on from a 3.84% decline on Monday, Bitcoin Cash ABC ended the day at $219.

A mixed start to the day saw Bitcoin Cash ABC rise to a mid-morning intraday high $292.22 before hitting reverse.

Falling well short of the first major resistance level at $303.35, Bitcoin Cash ABC slid to a late intraday low $210.18.

The sell-off saw Bitcoin Cash ABC fall through the major support levels and, more significantly, the 62% FIB of $262. The slide affirmed a near-term bearish trend, formed at June’s swing hi $516.

Support late on was of little respite as the broad-based crypto reversal continued for a 5th consecutive day.

At the time of writing, Bitcoin Cash ABC was up by 3.73% to $227.17. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $222.75 to a high $228.62.

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

For the day ahead, a move through to $230 levels would support a $240 levels later in the day.

Bitcoin Cash ABC would need the continued support of the broader market, however, to break out from $230 levels.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall well short of the first major resistance level at $270.75.

Failure to move through to $230 levels could see Bitcoin Cash ABC see red for a 6th consecutive day.

A pullback through to sub-$220 would bring Tuesday’s low $210 into play before any recovery.

Barring another crypto meltdown, however, Bitcoin Cash ABC should steer clear of the first major support level at $188.71.

Litecoin Back at sub-$60

Litecoin tumbled by 16.5% on Tuesday. Following on from an 8% slide on Monday, Litecoin ended the day at $55.5.

Relatively range-bound through the morning, Litecoin rose from a morning low $65.8 to an early morning intraday high $67.37.

Falling well short of the first major resistance level at $73.14, Litecoin eased back to $66 levels ahead of an afternoon sell-off.

The afternoon sell-off saw Litecoin fall to a late intraday low and new swing lo $55.2 before finding support.

Litecoin fell through the first major support level at $60.77 to visit sub-$60 for the 1st time since April. Finding support at the second major support level at $55.08 was of little consolation.

At the time of writing, Litecoin was up by 2.47% to $56.87. Tracking the broader market, Litecoin rose from an early morning low $55.26 to a high $57.0.

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

For the day ahead, Litecoin would need to move through to $59 levels to support a run at the first major resistance level at $63.51.

Litecoin would need the support of the broader market, however, to break through to $60 levels.

Barring a broad-based crypto rebound, resistance at $60 would likely cap any upside on the day.

Failure to move through to $59 levels could see Litecoin take another tumble.

A fall through the morning low $55.26 would bring $53 levels into play before any recovery. Barring a crypto meltdown, however, Litecoin should steer clear of the first major support level at $51.34.

Ripple’s XRP Visits sub-$0.26 Levels

Ripple’s XRP slid by 12.85% on Tuesday. Following on from a 3.37% fall on Monday, Ripple’s XRP ended the day at $0.23377.

A mixed start to the day saw Ripple’s XRP slide to an early morning low $0.26358 before finding support.

Steering clear of the major support levels, Ripple’s XRP recovered to a mid-morning intraday high $0.2731.

Falling well short of the first major resistance level at $0.2814, Ripple’s XRP tumbled to a late intraday low and new swing lo $0.21262.

The reversal saw Ripple’s XRP fall through the major support levels.

Finding support through the latter part of the day, Ripple’s XRP broke back through the third major support level at $0.2315.

At the time of writing, Ripple’s XRP was up by 2.44% to $0.23947. Finding early support, Ripple’s XRP rose from a morning low $0.23391 to a high $0.24198 before easing back.

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

For the day ahead, a move back through to $0.24 levels would bring $0.25 levels into play before any pullback.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.24198.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall well short of the first major resistance level at $0.2670.

Failure to move back through to and hold onto $0.24 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.23391 would bring $0.21 levels back into play before any recovery.

Barring another broad-based crypto sell-off, Ripple’s XRP should steer clear of the first major support level at $0.2066.

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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