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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/10/19

Bob Mason

Bitcoin Cash – ABC – Back at sub-$250

Bitcoin Cash ABC fell by 2.14% on Saturday. Partially reversing a 21.96% rally from Friday, Bitcoin Cash ABC ended the day at $254.12.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $283.7 before hitting reverse.

Bitcoin Cash ABC broke through the first major resistance level at $282.96 before sliding to a late afternoon intraday low $242.0.

Steering clear of the major support levels, Bitcoin Cash ABC recovered to $250 levels to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was down by 1.64% to $249.96. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $259.23 before sliding to a low $249.12.

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

For the day ahead, a move back through the morning high $259.23 to $260 levels would bring the first major resistance level at $277.88 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to take a run at $270 levels.

Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely come up well short of $280 levels and Saturday’s high $283.7.

Failure to move through to $260 levels would see Bitcoin Cash ABC struggle through the day.

A fall through to $245 levels would bring the first major support level at $236.18 into play before any recovery.

Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of sub-$230 levels.

Litecoin Back at $56 Levels

Litecoin slipped by 0.16% on Saturday. Following a 14.6% rally on Friday, Litecoin ended the day at $56.88.

Tracking the broader market early on, Litecoin rallied to an early morning intraday high $64.4 before hitting reverse.

Breaking through the first major resistance level at $60.88, Litecoin came within range of the second major resistance level at $64.80.

The reversal saw Litecoin slide to a late afternoon intraday low $54.14 before finding support.

Steering well clear of the major support levels, Litecoin recovered to $56 levels to limit the loss on the day.

At the time of writing, Litecoin was down by 1.32% to $56.13. Tracking the broader market, Litecoin rose to an early morning high $57.34 before falling to a low $55.77.

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

For the day ahead, a move through to $58.50 levels would bring $60 levels back into play.

Litecoin would need the support of the broader market, however, to break through the first major resistance level at $62.81.

Barring a broad-based crypto rebound later in the day, Litecoin would likely come up well short of Saturday’s high $64.4.

Failure to move through to $58.50 levels could see Litecoin fall deeper into the red. A fall through the morning low $55.77 would bring Saturday’s low $54.14 into play before any recovery.

Barring an extended sell-off through the day, however, Litecoin should steer clear of the first major support level at $52.55.

Ripple’s XRP Back at sub-$0.30

Ripple’s XRP fell by 1.48% on Saturday. Partially reversing an 8.07% rally from Friday, Ripple’s XRP ended the day at $0.29497.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.31533 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.3146 before sliding to a late afternoon intraday low $0.28444.

In spite of the reversal, Ripple’s XRP steered clear of the first major support level at $0.2797 before recovering to $0.29 levels.

At the time of writing, Ripple’s XRP was down by 0.87% to $0.2924. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29674 before falling to a low $0.29109.

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

For the day ahead, a move through to $0.2980 would bring $0.30 levels into play.

Support from the broader market would be needed for Ripple’s XRP to take a run at the first major resistance level at $0.3121.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.31 levels on the day.

Failure to move through to $0.2980 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.29109 to sub-$0.29 levels would bring the first major support level at $0.2812 into play.

Barring a crypto meltdown, Ripple’s XRP would likely steer clear of sub-$0.28 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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