Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 09/12/18

Bitcoin Cash – ABC Back on the Slide

Bitcoin Cash ABC fell by 4.29% on Saturday, following on from a 1.49% decline on Friday, to end the day at $99.27.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $108.89 before hitting reverse, the day’s high coming up short of the first major resistance level at $115.06.

The reversal saw Bitcoin Cash ABC slide to an early afternoon intraday low $94.9, coming within range of the first major support level at $94.3, before steadying to a relatively range bound 2^nd half of the day.

At the time of writing, Bitcoin Cash ABC was down 0.03% to $98.70, moves through the early morning seeing Bitcoin Cash ABC ease back from a start of a day morning high $99.24 to a morning low $97.71 before steadying, the day’s major support and resistance levels untested.

For the day ahead, a move back through the morning high $99.24 to $100 levels would signal a possible late weekend rally to reverse some of the week’s losses, though for Bitcoin Cash ABC to take a run at the first major resistance level at $107.14, a move through to $101 levels by the early afternoon would be needed.

Failure to move back through the morning high to $100 levels could see Bitcoin Cash ABC pullback through the morning low $97.71 to $95 levels, bringing the day’s first major support level at $93.15 into play, with the second major support level at $87.03 in play in the event of another crypto sell-off later in the day.

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Litecoin Struggles on

Litecoin fell by 2.34% on Saturday, following a 5.39% slide on Friday, to end the day at $24.19.

Tracking the broader market, Litecoin moved through to an early morning intraday high $26.7, coming up against the first major resistance level at $26.66 before hitting reverse.

The morning sell-off saw Litecoin fall to a late in the day intraday low $22.95, coming within range of the first major support level at $22.56 before moving back through to $24 levels. It was quite a reversal from the 7.8% gain through the early hours and reflective of the volatility being seen across the broader market as the year comes to an end.

At the time of writing, Litecoin was up 0.45% to $24.3, a range bound start to the day seeing Litecoin move from a morning low $24.06 to a morning high $24.53 before easing back.

For the day ahead, a move back through the morning high $24.53 to $24.6 would support a run at $25 levels to bring the day’s first major resistance level at $26.28 and Saturday’s intraday high $26.7 into play before any pullback.

Failure to move through the morning high to $24.6 by the early afternoon could see Litecoin hit reverse, with a fall through the morning low $24.06 to $23 levels bringing the first major support level at $22.53 into play before any recovery.

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Ripple Makes a Splash

Ripple’s XRP gained 1.65% on Saturday, following on from Friday’s 1.6% gain, to end the day at $0.31073.

A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.32845, breaking through the first major resistance level at $0.3195 before hitting reverse.

Tracking the broader market, Ripple’s XRP fell to a late in the day intraday low $0.29408, holding above the first major support level at $0.2922 before a late in the day spike.

The spike saw Ripple’s XRP break through the first major resistance level at $0.3195 and second major resistance level at $0.3332 to an intraday high $0.34078 before sliding back.

At the time of writing, Ripple’s XRP was up 0.77% to $0.31312. Through the early part of the morning, Ripple’s XRP moved from a start of a day morning low $0.30981 to a morning high $0.31446, leaving the day’s major support and resistance levels left untested.

For the day ahead, a move through the morning high $0.31446 to $0.3150 levels would support a run at $0.32 levels to bring the day’s first major resistance level at $0.3363 into play before any pullback, strong market support needed to bring Saturday’s $0.34078 intraday high into play.

Failure to move through the morning high to $0.3150 levels could see Ripple’s XRP pullback through the morning low $0.30981 to bring sub-$0.30 levels and the day’s first major support level at $0.2896 into play before any recover, heavier losses and sub-$0.28 levels not expected on the day.

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This article was originally posted on FX Empire

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