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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 03/09/19

Bob Mason

Bitcoin Cash ABC – Bucks the Trend Early

Bitcoin Cash ABC rallied by 4.95% on Monday. Following on from a 1.26% rise from Sunday, Bitcoin Cash ABC ended the day at $294.82.

A mixed start to the day saw Bitcoin Cash ABC ease to a mid-morning intraday low $280.56 before finding support.

Steering well clear of the first major support level at $276.91, Bitcoin Cash ABC rallied to a late intraday high $294.82.

Bitcoin Cash ABC broke through the first major resistance level at $285.32 and second major resistance level at $288.35.

While holding above the second major resistance level at the day end, it was also a first visit to $290 levels since 29th August.

At the time of writing, Bitcoin Cash ABC was up by 1.34% to $298.77. A particularly bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $293.21 to a high $298.77.

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

For the day ahead, a hold onto $298 levels would support a run at the first major resistance level at $299.57.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $300 levels.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall short of the second major resistance level at $304.33.

Failure to hold onto $298 levels could see Bitcoin Cash ABC hit reverse. A fall through the morning low $293.21 to $290 levels would bring the first major support level at $285.31 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$280 levels on the day.

Litecoin Back in the Red

Litecoin gained 1.65% on Monday. Following on from a 2.75% rise from Sunday, Litecoin ended the day at $67.2.

A bearish start to the day saw Litecoin fall from an early morning high $66.51 to a mid-morning intraday low $65.08.

Steering clear of the first major support level at $64.28, Litecoin rallied to a late intraday high $68.21.

Finding the support of the broader market, Litecoin broke through the first major resistance level at $67.65 before easing back.

The late pullback saw Litecoin fall back through the first major resistance level ahead of the day end.

At the time of writing, Litecoin was down by 0.28% to $67.01. A mixed start to the day saw Litecoin strike an early morning high $67.52 before hitting reverse.

Falling short of the first major resistance level at $68.58, Litecoin fell to an early morning low $66.63. Litecoin also left the major support levels untested early on.

For the day ahead, holding above $66.80 levels through the morning would support another run at the first major resistance level at $68.58.

Litecoin would need the support of the broader market, however, to break through to $68 levels.

Barring a broad-based crypto rally, Monday’s high $68.21 and first major resistance level would cap any upside.

Failure to hold above $66.80 levels would bring the first major support level at $65.45 into play.

Barring an extended sell-off through the day, Litecoin should steer well clear of the second major support level at $63.70.

Ripple’s XRP Holds onto $0.26

Ripple’s XRP gained 1.74% on Monday. Following on from a 2.75% rise on Sunday, Ripple’s XRP ended the day at $0.26158.

Tracking the broader market, Ripple’s XRP fell from an early morning high $0.25744 to a late morning intraday low $0.25373.

Holding above the first major support level at $0.2522, Ripple’s XRP rallied to a late intraday high $0.26485.

Ripple’s XRP broke through the first major resistance level at $0.2607 to come up against the second major resistance level at $0.2645 before easing back.

At the time of writing, Ripple’s XRP was down by 0.4% to $0.26053. Also mixed early on, Ripple’s XRP rose to an early morning high $0.26239 before falling to a low 0.26014.

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

For the day ahead, holding onto $0.26 levels would support another run at the first major resistance level at $0.2664.

Ripple’s XRP would need the support of the broader market, however, to break out from Monday’s high $0.26485.

Barring a broad-based crypto rally, Ripple’s XRP would likely continue to fall short of $0.27 levels.

Failure to hold onto $0.26 levels could see Ripple’s XRP slide deeper into the red. A fall through to $0.2580 levels would bring the first major support level at $0.2553 into play.

Barring an extended crypto sell-off through the day, Ripple’s XRP should steer clear of sub-$0.25 levels.

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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