Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/09/19
Bitcoin Cash – ABC – Finds Early Support
Bitcoin Cash ABC fell by 1.48% on Tuesday. Following on from a 0.08% decline on Monday, Bitcoin Cash ABC ended the day at $302.27.
A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $309.55. Falling short of the first major resistance level at $311.49, Bitcoin Cash ABC slid to an early evening intraday low $298.04.
The sell-off saw Bitcoin Cash ABC fall through the first major support level at $298.53. Finding late support from the broader market, Bitcoin Cash ABC moved back through to $300 levels, limiting the loss on the day.
At the time of writing, Bitcoin Cash ABC was up by 0.38% to $303.41. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $306.45 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 $306 levels would support another run at the first major resistance level at $308.53.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to hold onto $303 levels through the morning.
Barring a broad-based crypto rally, Tuesday’s high $309.55 and first major resistance level would likely cap any upside.
Failure to hold onto $303 levels through the morning would see Bitcoin Cash ABC slide into the red. A fall through to sub-$300 levels would bring the first major support level at $297.02 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of the second major support level at $291.78.
Litecoin Holds onto $70
Litecoin rose by 1.19% on Tuesday. Reversing a 0.74% fall from Monday, Litecoin ended the at $70.75.
A particularly bullish start to the day saw Litecoin rally to an early morning intraday high $73.24 before sliding back.
Breaking through the first major resistance level at $71.67, Litecoin came up against the second major resistance level at $73.4.
The reversal saw Litecoin slide to an early evening intraday low $69.62. Steering clear of the first major support level at $68.0, Litecoin moved back through to $70 levels to close out the day in the green.
At the time of writing, Litecoin was down by 0.51% to $70.39. A relatively range-bound start to the day saw Litecoin rise to an early morning high $71.7 before falling to a low $70.36.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $71.2 levels would bring the first major resistance level at $72.79 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $71.7.
Barring a broad-based crypto rally through the day, the first major resistance level at $72.79 would likely limit any upside on the day.
Failure to move back through to $71.2 levels could see Litecoin slide deeper into the red. A fall through the morning low $70.37 would bring the first major support level at $69.17 into play.
Barring an extended sell-off through the day, however, we would expect Litecoin to steer clear of sub-$68 support levels.
Ripple’s XRP Continues its Struggles at $0.26
Ripple’s XRP slipped by 0.21% on Tuesday. Following on from a 1.43% fall from Monday, Ripple’s XRP ended the day at $0.25871.
A choppy morning saw Ripple’s XRP rise to an early morning high $0.26341. Ripple’s XRP came within range of the first major resistance level at $0.2640 before sliding to a late morning intraday low $0.254.
The reversal saw Ripple’s XRP fall through the first major support level at $0.2559.
A second rally to a mid-day intraday high $0.26419 saw Ripple’s XRP come up against the first major resistance level at $0.2640 before hitting reverse.
Ripple’s XRP slid to an early evening intraday low $0.254. Ripple’s XRP fell through the first major support level at $0.2559 for a 2nd time before finding late support.
At the time of writing, Ripple’s XRP was down by 0.43% to $0.2576. A choppy start to the day saw Ripple’s XRP rise to an early morning high $0.26144 before falling to a low $0.25701.
In spite of the early moves, Ripple’s XRP left the major support and resistance levels untested.
For the day ahead, a move back through to $0.2590 levels would bring the first major resistance level at $0.2639 into play.
Ripple’s XRP would need the support of the broader market, however, to break out from this morning’s high $0.26144.
Barring a broad-based crypto rally, Ripple’s XRP will likely continue to come up short of $0.27 levels.
Failure to move back through to $0.2590 levels would see Ripple’s XRP fall deeper into the red.
A pullback through the morning low $0.25701 to $0.2550 levels would bring the first major support level at $0.2537 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.25 support levels on the day.
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Thanks, Bob
