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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 31/10/19

Bob Mason

Bitcoin Cash – ABC – Holds On

Bitcoin Cash ABC rose by 0.47% on Wednesday. Following on from an 8.46% rally on Tuesday, Bitcoin Cash ABC ended the day at $288.7.

A particularly bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $307.0. It was Bitcoin Cash ABC’s first visit to $300 levels since 23rd September.

Bitcoin Cash ABC broke through the first major resistance level at $302.7 before hitting reverse.

The reversal saw Bitcoin Cash ABC fall to a late morning intraday low $282.14 before finding support.

Steering clear of the first major support level at $269.14, Bitcoin Cash ABC moved back through to $288 levels to end the day in the green.

At the time of writing, Bitcoin Cash ABC was down by 0.37% to $287.62. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $293.18 before falling to a low $285.40.

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

For the day ahead, a move back through to $292.6 levels would support a run at the first major resistance level at $303.09.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $293.18.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $307.0 would cap any upside.

Failure to move through to $292.70 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through Wednesday’s low $282.14 would bring the first major support level at $278.23 into play.

Barring a crypto meltdown, Bitcoin Cash ABC should steer well clear of sub-$270 support levels.

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Litecoin Back at $58

Litecoin fell by 3.16% on Wednesday. Reversing a 3.46% gain from Tuesday, Litecoin ended the day at $57.96.

Tracking the broader market, Litecoin rallied to an early morning intraday high $61.19 before hitting reverse.

Falling short of the first major resistance level at $61.33, Litecoin slid to an early afternoon intraday low $56.82.

Litecoin fell through the first major support level at $58.07 before finding support to wrap up the day at $57 levels.

At the time of writing, Litecoin was up by 0.26% to $58.11. A bullish start to the day saw Litecoin rise to an early morning high $59.17 before falling to a low $57.4.

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

For the day ahead, a move back through to $58.7 levels would bring the first major resistance level at $60.49 into play.

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

Failure to move back through to $58.7 levels could see Litecoin hit reverse.

A fall back through the morning low $57.4 would bring $56 levels into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer clear of the first major support level at $56.12.

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Ripple’s XRP Gives up on $0.30

Ripple’s XRP fell by 2.36% on Wednesday. Reversing a 2.57% rise from Tuesday, Ripple’s XRP ended the day at $0.29563.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.3070 before hitting reverse.

Falling short of the first major resistance level at $0.3103, Ripple’s XRP fell to an early afternoon intraday low $0.29089.

Ripple’s XRP fell through the first major support level at $0.2952 before finding support.

A partial recovery through the afternoon saw Ripple’s XRP rise to $0.297 levels before easing back in the final hour.

At the time of writing, Ripple’s XRP was down by 0.19% to $0.29506. A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.29931 before hitting reverse.

Falling short of the first major resistance level at $0.3048, Ripple’s XRP fell to a morning low $0.29349. Ripple’s XRP steered clear of the first major support level at $0.2887 early on.

For the day ahead, a move back through to $0.2980 levels would bring the first major resistance level at $0.3048 into play.

Ripple’s XRP would need the support of the broader market, however, to break through to $0.30 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.31 levels for a 2nd consecutive day.

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

A fall through the morning low $0.29249 would bring the first major support level at $0.2887 into play.

Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2817.

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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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