UK Markets open in 27 mins

Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/11/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 0.87% on Saturday. Partially reversing a 4.89% slide Friday, Bitcoin Cash ABC ended the day at $264.76.

It was a relatively bullish start to the day. Bitcoin Cash ABC rose from an early intraday low $262.48 to a late morning intraday high $267.00 before easing back.

Bitcoin Cash ABC left the major support and resistance levels untested before falling back to $263 levels.

A relatively range-bound second half of the day saw Bitcoin Cash ABC move back through to $265 levels before easing back.

At the time of writing, Bitcoin Cash ABC was flat at $264.76. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $265.2 before easing back to a low $264.76.

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

For the day ahead, a move back through to $265 levels would support a run at the first major resistance level at $267.01

Support from the broader market would be needed, however Bitcoin to break out from the morning high.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $267 would likely limit any upside.

In the event of a breakout, the second major resistance level at $269.27 and $270 levels would likely come into play.

Failure to move back through to $265 levels could see Bitcoin Cash ABC hit reverse.

A fall back through to $263 levels would bring the first major support level at $262.49 into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$260 levels. The second major resistance level at $260.23 would likely limit any downside.

Litecoin Returns $58 Levels

Litecoin rose by 1.20% on Saturday. Partially reversing a 2.36% fall from Friday, Litecoin ended the day at $58.21.

A mixed start to the day saw Litecoin fall to an early morning intraday low $57.06 before finding support.

Steering clear of the first major support level at $55.52, Litecoin rose to a late morning intraday high $58.91.

Falling short of the first major resistance level at $60.11, Litecoin fell back to $57 levels.

Through the 2nd half of the day, Litecoin struck a high $58.58 before easing back. Support at $58 delivered the upside on the day.

At the time of writing, Litecoin was up by 0.05% to $58.24. A mixed start to the day saw Litecoin rise to an early morning high $58.65 before falling to a low $58.16.

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

For the day ahead, Litecoin would need to hold onto $58 levels to support a run at the first major resistance level at $59.06.

Support from the broader market would be needed, however, for Litecoin to break out from Saturday’s high $58.91.

In the event of a broad-based crypto rally, the second major resistance level at $59.91 and Friday’s high $60.68 could come into play.

Failure to hold onto $58 levels would bring the first major support level at $57.21 into play before any recovery.

Barring a broad-based crypto sell-off, Litecoin should steer clear of sub-$56 levels. The second major support level at $56.21 should limit any downside.

Ripple’s XRP Visits sub-$0.26

Ripple’s XRP rose by 0.91% on Saturday. Partially reversing a 2.65% decline from Friday, Ripple’s XRP ended the day at $0.26325.

A bullish start to the day saw Ripple’s XRP rise from an early intraday low $0.25918 to a late morning intraday high $0.26480.

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

A midday pullback into negative territory was short-lived, with Ripple’s XRP finding support in the 2nd half of the day to wrap up the day in the green.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.2635. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26427 before falling to a low $0.26245.

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

For the day ahead, Ripple’s XRP would need to move back through to $0.2640 levels to support a run at the first major resistance level at $0.2656

Support from the broader market would be needed, however for Ripple’s XRP to break through to $0.2650 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely fall short of $0.27 levels for a 2nd consecutive day.

The second major resistance level at $0.2680 would likely limit any upside on the day.

Failure to move back through to $0.2640 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.26245 would bring the first major resistance level at $0.2600 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2568.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: