Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/11/19
Bitcoin Cash – ABC – Continues to Struggle
Bitcoin Cash ABC fell by 1.58% on Wednesday. Reversing a 1.35% gain from Tuesday, Bitcoin Cash ABC ended the day at $284.43.
A bearish start to the day saw Bitcoin Cash ABC fall from an early morning intraday high $289.0 to an early morning low $284.
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Steering clear of the major support and resistance levels, Bitcoin Cash ABC recovered to $289 levels by late morning.
Falling short of $290 levels, Bitcoin Cash ABC slid to a late intraday low $281.23 before finding support. Bitcoin Cash ABC fell through the first major support level at $281.97 before a final hour move back to $284 levels.
At the time of writing, Bitcoin Cash ABC was down by 0.5% to $283.00. Another bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $284.91 to a low $283.0.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $285 levels would support a run at the first major resistance level at $288.54.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from $285 levels.
Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $289.0 would likely cap any upside.
Failure to move through to $285 levels could see Bitcoin Cash ABC fall deeper into the red.
A pullback to $282 levels would bring the first major support level at $280.77 into play before any recovery.
Barring an extended sell-off through the day, however, Bitcoin Cash ABC hold above the second major support level at $277.12.
Litecoin Stuck at sub-$61 Levels
Litecoin fell by 0.93% on Wednesday. Following on from a 0.55% fall on Tuesday, Litecoin ended the day at $60.84.
A choppy morning saw Litecoin fall to a morning low $60.76 before striking a late morning intraday high $61.93.
Falling short of the first major resistance level at $62.55, Litecoin slid to an early afternoon intraday low $60.36.
In spite of the pullback, Litecoin steered clear of the first major support level at $59.92. Range-bound through the rest of the day, Litecoin hit $61 levels late on before easing back.
At the time of writing, Litecoin was down by 0.16% to $60.74. A mixed start to the day saw Litecoin rise to an early morning high $60.98 before falling to a low $60.52.
Litecoin left the major support and resistance levels untested early on.
For the day ahead a move through to $60.90 levels would support a run at the first major resistance level at $61.81.
Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $60.98.
Barring a broad-based crypto rally, Litecoin would likely fall short of $62 levels for a 2nd consecutive day.
The first major resistance level and Wednesday’s high $61.93 would likely limit any upside on the day.
Failure to move back through to $60.90 levels could see Litecoin spend a 4th consecutive day in the red.
A fall back through the morning low $60.50 would bring the first major support level at $60.00 into play.
Barring an extended sell-off through the day, however, Litecoin should steer clear of the second major support level at $59.15.
Ripple’s XRP Holds onto $0.27
Ripple’s XRP rose by 0.08% on Wednesday. Following a 0.79% decline on Tuesday, Ripple’s XRP ended the day at $0.27295.
A mixed start to the day saw Ripple’s XRP rally from an early morning intraday low $0.27084 to a mid-morning intraday high $0.27588.
Falling short of the first major resistance level at $0.2767, Ripple’s XRP slid to back an early afternoon low $0.27121.
Steering clear of the first major support level at $0.2681, Ripple’s XRP briefly returned to $0.274 levels before sliding back to $0.272 levels.
At the time of writing, Ripple’s XRP was down by 0.16% to $0.27250. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.27466 before falling to a low $0.27250.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2735 would bring the first major resistance level at $0.2756 into play.
Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.27466.
Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.28 levels for a 3rd consecutive day.
The second major resistance level at $0.2783 would likely cap any upside on the day.
Failure to move through to $0.2735 levels could see Ripple’s XRP resume the downward trend of the week.
A fall back through Wednesday’s low $0.27084 would bring the first major support level at $0.2706 into play.
Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of sub-$0.27 support levels.
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Thanks, Bob