Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/05/19

It’s a bullish start to the day for all but a few, with Ripple’s XRP being one of the few.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin Cash – ABC – Hits $300

Bitcoin Cash ABC rallied by 2.24% on Friday. Reversing a 0.75% fall from Thursday, Bitcoin Cash ABC ended the day at $287.00.

A bearish start to the day saw Bitcoin Cash ABC slide to an intraday low $276.76 before finding support. In spite of the early pullback, Bitcoin Cash ABC steered clear of the first major support level at $275.30.

The recovery saw Bitcoin Cash ABC rally to a mid-morning intraday high $294.91. Bitcoin Cash ABC broke through the first major resistance level at $290.65 and 23.6% FIB of $291 before easing back.

A choppy afternoon saw Bitcoin Cash ABC strike a high $292.15 before pulling back to sub-$290 levels.

At the time of writing, Bitcoin Cash ABC was up by 3.17% to $296.10. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $285.49 to a high $303.67 before easing back.

Bitcoin Cash ABC broke through the 23.6% FIB and first major resistance level at $295.69 in the early rally.

For the day ahead, a move back through to $300 levels would support another run at the second major resistance level at $304.37.

Barring a major crypto rally, Bitcoin Cash ABC will likely struggle to break out from $304 levels on the day.

Failure to move back through to $300 levels could see Bitcoin Cash ABC hit reverse. A fall back through the 23.6% FIB would bring $288 levels into play before any recovery.

Barring a major crypto sell-off, Bitcoin Cash ABC will likely steer well clear of the first major support level at $277.54.

Litecoin Is on the Move

Litecoin rallied by 3.94% on Friday. Following a 0.12% fall on Thursday, Litecoin ended the day at $76.68.

Recovering from an early morning intraday low $72.38, Litecoin rallied to a morning high $77.94 before easing back. The early rally saw Litecoin break through the first major resistance level at $75.5 and second major resistance level at $77.24.

A pullback to $74 levels was short-lived, with Litecoin rallying to a late intraday high $79.24 before falling back to $76 levels.

While breaking back through the first and second major resistance levels, Litecoin came up short of the third major resistance level at $80.63.

At the time of writing, Litecoin was up by 2.53% to $78.62. A bullish start to the day saw Litecoin rise from a morning low $76.68 to a high $79.72.

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

For the day ahead, a hold onto $78 levels would support run at the first major resistance level at $79.82.

Support from the broader market would be needed, however, for Litecoin to take a run at the second major resistance level at $82.96 and the 38.2% FIB of $83.

Failure to hold onto $78 levels could see Litecoin give up the morning gains. A fall to sub-$76.10 levels would bring $73 levels into play before any recovery.

Barring a crypto meltdown, the first major support level at $72.96 will likely limit the downside on the day.

Ripple Bucks the Trend

Ripple’s XRP rose by 0.81% on Friday. Partially reversing a 3.68% slide from Thursday, Ripple’s XRP ended the day at $0.30152.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.2942 before finding support.

Holding above the first major support level at $0.2933, Ripple’s XRP rallied to an early morning intraday high $0.30576.

In spite of the early rally, Ripple’s XRP came up short of the first major resistance level at $0.3087.

Range-bound through the rest of the day, Ripple’s XRP dipped to sub-$0.30 levels in the final hours of the day before recovering to $0.30 levels by the day’s end.

At the time of writing, Ripple’s XRP was down by 0.34% to $0.30050. A choppy start to the day saw Ripple’s XRP strike a morning high $0.30719 before hitting reverse. Coming up against the first major resistance level at $0.3068, Ripple’s XRP slid to a morning low $0.29808 before finding support.

For the day ahead, a hold onto $0.3000 levels would support another run at the first major resistance level at $0.3068.

Ripple’s XRP would need to move through to $0.3070 levels early in the day, however, to support a run at $0.3100 levels.

An early breakthrough to $0.3100 levels would bring the second major resistance level at $0.3121 into play.

Failure to hold onto $0.3000 levels could see Ripple’s XRP slide through the first major support level at $0.2952 before any recovery.

A fall through to $0.2920 levels would bring the second major support level at $0.2889 into play.

Please let us know what you think in the comments below

Thanks, Bob

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