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

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rallied by 3.97% on Sunday. Following on from a 2.13% gain on Saturday, Bitcoin Cash ABC ended the week down 0.12% at $293.0.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $279.96.

Steering clear of the first major support level at $278.08, Bitcoin Cash ABC rallied to a late afternoon intraday high $298.52.

Bitcoin Cash ABC broke through the first major resistance level at $285.72 and second major resistance level at $288.44.

In spite of a late pullback, Bitcoin Cash ABC held onto $290 levels to close cut the deficit for the week.

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At the time of writing, Bitcoin Cash ABC was up by 0.20% to $293.59.

A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $293.18 to a high $296.53 before easing back.

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

For the day ahead, a move back through to $295 levels would support a run at the first major resistance level at $301.03.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Sunday’s high $298.52.

Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely fall short of $300 for a 4th consecutive day.

Failure to move back through to $295 levels could see Bitcoin Cash ABC hit reverse.

A fall back to $290.50 levels would bring the first major support level at $282.47 into play before any recovery.

Barring an extended crypto sell-off, however, Bitcoin Cash ABC should steer clear of sub-$280 levels.

Litecoin back at $63 Levels

Litecoin rose by 2.55% on Sunday. Following on from a 2.89% gain on Saturday, Litecoin ended the week up 9.04% to $63.66.

A choppy start to the day saw Litecoin rise to a morning high $64.08 before hitting reverse. Litecoin broke through the first major resistance level at $62.88 and the second major resistance level at $63.72.

Litecoin fell to a late afternoon intraday low $61.02 before bouncing to an intraday high $66.19.

Steering clear of the major support levels, Litecoin broke through the major resistance levels before a late pullback.

The pullback saw Litecoin fall through the third major support level at $65.95 and the second major support level at $63.72.

At the time of writing, Litecoin was down by 0.82% at $63.14. A mixed start to the day saw Litecoin rise to an early morning high $64.27 before sliding to a low $62.80.

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

For the day ahead, a move back through to $63.60 levels would support a run at the first major resistance level at $66.23.

Litecoin would need the support of the broader market to break out from the morning high $64.27.

Barring a broad-based crypto rally on the day, however, Litecoin would likely come up short of S66 levels on the day.

Failure to move back through to $63.60 levels could see Litecoin fall deeper into the red. A pullback to sub-$63 levels would bring the first major support level at $61.06 into play before any recovery.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$61 levels on the day.

Ripple’s XRP Continues to Struggle

Ripple’s XRP fell by 0.2% on Sunday. Partially reversing a 1.55% rise from Saturday, Ripple’s XRP ended the week down 3.96% at $0.27978.

Tracking the broader market early on, Ripple’s XRP rose from an early intraday low $0.27712 to a morning high $0.28240.

Leaving the major support and resistance levels untested, Ripple’s XRP fell back to sub-$0.28 levels before finding support.

A late afternoon rally saw Ripple’s XRP strike an intraday high $0.28484. Ripple’s XRP broke through the first major resistance level at $0.2835 before sliding back to sub-$0.28 levels late in the day.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.28002

A mixed start saw Ripple’s XRP rise to an early morning high $0.28152 before falling to a low $0.27967.

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

For the day ahead, Ripple’s XRP would need to hold onto $0.28 levels to support a bullish day ahead.

Support from the broader market would be needed, however, for Ripple’s XRP to break through the first major resistance level at $0.2840.

Barring a broad-based crypto rally on the day, Ripple’s XRP would likely fall short of the second major resistance level at $0.2883.

Failure to hold onto $0.28 levels would bring the first major support level at $0.2763 into play.

Barring a broad-based sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2729.

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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