Bitcoin Cash – ABC, Chainlink and Ripple Daily Analysis – 11/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC fell by 0.63% on Tuesday. Following on from a 2.81% slide on Monday, Bitcoin Cash ABC ended the day at $206.68.

Recovering from a morning low $207.12, Bitcoin Cash ABC struck a late morning intraday high $208.81 before hitting reverse.

Falling short of the first major resistance level at $213.27, Bitcoin Cash ABC slid to a late afternoon intraday low $203.73.

Bitcoin Cash ABC fell through the first major support level at $204.31 before recovering to $206 levels late on.

At the time of writing, Bitcoin Cash ABC was down by 0.55% to $205.54. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $207.56 before falling to a low $205.00.

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

For the day ahead, a move back through to $206.40 levels would bring the first major resistance level at $209.08 into play.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $207.56.

Barring a broad-based crypto rebound, resistance at $208 would likely cap any upside.

Failure to move back through to $206.40 levels could see Bitcoin Cash ABC fall deeper into the red.

A fall back to the morning low $205.00 would bring the first major support level at $204.00 into play.

Barring an extended sell-off, however, Bitcoin Cash ABC should continue to steer clear of sub-$200 levels.

The second major support level at $201.33 should limit any downside on the day.

Chainlink

Chainlink rallied by 7.87% on Tuesday. Following on from a 1.81% gain on Monday, Chainlink ended the day at $2.2622.

A bullish start to the day saw Chainlink rally to a mid-morning intraday high $2.3000 before easing back.

Chainlink broke through the major resistance levels and the 23.6% FIB of $2.24 before sliding back to $2.14 levels.

Falling back through the 23.6% FIB, Chainlink also fell back through the third major resistance level at $2.2323 and second major resistance level at $2.1507.

Finding support through the late morning, however, Chainlink bounced back to $2.27 levels before easing back.

Once more, Chainlink broke through the major resistance levels and the 23.6% FIB, before closing out at $2.26 levels.

At the time of writing, Chainlink was down by 1.29% to $2.2330. A mixed start to the day saw Chainlink rise to an early morning high $2.3000 before falling to a low $2.2178.

While leaving the major support and resistance levels untested, Chainlink broke through the 23.6% FIB of $2.2400

For the day ahead, a move back through the morning high $2.3000 would bring the first major resistance level at $2.3541 into play.

Support from the broader market would be needed, however, for Chainlink to break out from the 23.6% FIB.

Barring a late morning break back through the morning high, resistance at $2.3000 levels would likely limit any upside.

Failure to break out from the 23.6% FIB could see Chainlink slide deeper into the red.

A fall through the early low $2.2178 would bring sub-$2.2000 levels into play before any recovery.

Barring an extended sell-off, however, Chainlink should steer clear of the first major support level at $2.1160.

Ripple’s XRP

Ripple’s XRP fell by 0.67% on Tuesday. Following on from a 2.38% slide on Monday, Ripple’s XRP ended the day at $0.22384.

It was bearish through most of the day. Ripple’s XRP fell from an early morning intraday high $0.22645 to a late afternoon intraday low $0.21977.

Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2203.

Finding support late on, Ripple’s XRP broke back through the first major support level to limit the loss.

At the time of writing, Ripple’s XRP was down by 1.05% to $0.22150. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22475 before falling to a low $0.22119.

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

For the day ahead, a move back through to $0.2235 levels would bring the first major resistance level at $0.2269 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.22475.

Barring a broad-based crypto rebound, Tuesday’s high $0.22645 and first major resistance level would likely cap any upside.

Failure to move back through to $0.2235 levels could see Ripple’s XRP spend a 3^rd consecutive day in the red.

A fall through the morning low $0.22119 would bring the first major support level at $0.2203 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2167.

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Thanks, Bob