BitSeven.com - FOR CRYPTO TRADERS. HIGH QUALITY CRYPTO NEWS : Bitcoin Cash, Litecoin and Ripple Daily Analysis – 24/10/18

in bitcoin •  8 months ago 

bitseven.com-It’s a positive start to the day for the trio, with Bitcoin Cash leading the way following Tuesday’s fall, moves through the morning key for the day ahead.

Bitcoin Cash Struggles Continue

Bitcoin Cash fell by 1.51% on Tuesday, following a 0.07% rise on Monday, to end the day at $449.5.

A bearish start to the day saw Bitcoin Cash slide from an early morning intraday high $458.2 to a late morning intraday low $444, the morning reversal seeing Bitcoin Cash fall through the first major support level at $449.7 to come within range of the second major support level at $443 before steadying.

Bitcoin Cash failed to hold on to $450 levels hit late in the day, with $450 the line in the sand for the bulls and the bears.

At the time of writing, Bitcoin Cash was up 0.99% to $454, with a bullish start to the day seeing Bitcoin Cash rise from a start of a day morning low $449.5 to a morning high $458 before easing back, Bitcoin Cash testing the day’s first major resistance level at $457.13 in the early hours.

For the day ahead, a hold on to $450 levels through the morning would support another run at the day’s first major resistance level at $457.13, with a break through to $460 levels in play should sentiment hold across the broader market through the afternoon, while the day’s second major resistance level at $464.77 will likely be out of play for the day.

Failure to hold on to $450 levels could see Bitcoin Cash fall back through the morning low $444.9 to call on support at the day’s first major support level at $442.93, a more material reversal unlikely barring materially negative news hitting the crypto wires.

Litecoin Steadies

Litecoin gained 0.83% on Tuesday, partially reversing Monday’s 1.05% loss, to end the day at $52.11.

While relatively choppy through the day, Litecoin fell through the day’s first major support level at $51.66 to a late morning intraday low $51.4 before finding support to rally to an intraday high $52.49. Litecoin broke through the first major resistance level at $52.1 to come within range of the second major resistance level at $52.51 before a late afternoon sell-off and recovery back to $52 levels by the day’s end.

At the time of writing, Litecoin was up 0.17% to $52.19, with a relatively range bound start to the day seeing Litecoin’s morning high $52.22 and morning low $52.04 leave the day’s major support and resistance levels untested.

For the day ahead, a hold onto $52 levels through the morning would support a run at the day’s first major resistance level at $52.6 to bring $53 levels into play for the first time since Sunday, while the day’s second major resistance level at $53.09 will likely pin Litecoin back from any run at $54 levels on the day.

Failure to hold onto $52 levels could see Litecoin pullback to sub-$52 levels to test the day’s first major support level at $51.51, while sub-$51 support levels will likely be out of play barring materially negative news hitting the wires in the day.

Ripple Looking to Lead the Way

Ripple’s XRP gained 1.86% on Tuesday, reversing Monday’s 0.69% loss, to end the day at $0.4703.

A bearish start to the day saw Ripple’s XRP slide through the day’s first major support level at $0.4551 and second major support level at $0.4488 to a late morning intraday low $0.4447 and a range bound afternoon before finding support late in the day.

Bucking the trend across the broader market, a late recovery saw Ripple’s XRP rally to an intraday high $0.48534, breaking through the day’s first major resistance level at $0.4679 and second major resistance level at $0.4744 before easing back.

At the time of writing, Ripple’s XRP was up 0.29% to $0.47096, moves through the early hours seeing Ripple’s XRP hit an early morning high $0.47581 off the back of a start of a day morning low $0.4696, the day’s major support and resistance levels left untested early on.

For the day ahead, a hold onto $0.47 levels through the morning would support a move through the morning high $0.47581 to bring $0.48 levels and the day’s first major resistance level at $0.4889 into play, though sentiment across the broader market will need to improve through the day to support a Ripple’s XRP rally off the back of Tuesday’s gains.

Failure to hold on to $0.47 levels could see Ripple’s XRP pullback through $0.46 levels to bring sub-$0.45 levels and the day’s first major support level at $0.4482 into play before any recovery, sub-$0.44 support levels unlikely to be tested barring particularly negative news hitting the crypto wires.

bitseven.comBitcoin leveraged trade at 100x leverage maximum, 100% profit at 1% price raise
Make a profit whether the bitcoin price rises or falls
BITCOIN LEVERAGE TRADING YOU CAN TRUST

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.fxempire.com/forecasts/article/bitcoin-cash-litecoin-and-ripple-daily-analysis-24-10-18-533838