Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/10/19

It’s a mixed start to the day, but with the majors recovering from early lows a breakout could be on.
Bob Mason
Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Bitcoin Cash – ABC – Visits sub-$230

Bitcoin Cash ABC slid by 3.75% on Thursday. Reversing a 2.98% gain from Wednesday, Bitcoin Cash ABC ended the day at $230.99.

A bearish start to the day saw Bitcoin Cash ABC slide from an early morning intraday high $240 to a mid-day intraday low $230.06.

Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $230.48.

Through the 2nd half of the day, Bitcoin Cash ABC managed to hit a high $232.61 before easing back.

The first major support level at $230.48 provided further support through the afternoon to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.1% to $231.22. A bearish start to the day saw Bitcoin Cash ABC slide to an early morning low $226.64.

Bitcoin Cash ABC fell through the first major support level at $227.37 before striking a morning high $231.22.

In spite of the recovery, Bitcoin Cash ABC came up short of the first major resistance level at $237.31.

For the day ahead, a move through to $234 levels would support a run at the first major resistance level.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from current levels.

Barring a broad-based crypto rally, the first major resistance level would likely pin Bitcoin Cash ABC back from $240 levels.

Failure to move through to $234 levels could see Bitcoin Cash ABC fall back into the red. A fall back through the first major support level at $227.37 would bring the second major support level at $223.74 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$220 levels on the day.

Litecoin Holds Steady

Litecoin fell by 2.56% on Thursday. Partially reversing a 3.98% rally from Wednesday, Litecoin ended the day at $57.77.

A bearish morning saw Litecoin fall from an early morning intraday high $59.49 to a mid-day low $57.51.

Steering clear of the first major support level at $57.20, Litecoin recovered to an afternoon high $58.28 before hitting reverse.

The reversal saw Litecoin fall through the first major support level at $57.20 to a late intraday low $57.14.

At the time of writing, Litecoin was down by 0.09% to $57.72. A choppy start to the day saw Litecoin fall to an early morning low $56.92 before striking a morning high $57.83.

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

For the day ahead, a move through to $58.20 levels would support a run at the first major resistance level at $59.13.

Litecoin would need the support of the broader market, however, to break out from the morning high $57.83.

In the event of a broad-based crypto rally, Litecoin could test the second major resistance level at $60.48 before any pullback.

Failure to move through to $58.20 levels could see Litecoin fall deeper into the red. A fall through the morning low $56.92 would bring the first major support level at $56.78 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$56 support levels on the day.

Ripple’s XRP Revisits sub-$0.27

Ripple’s XRP slid by 3.66% on Thursday. Reversing a 1.23% gain from Wednesday, Ripple’s XRP ended the day at $0.27170.

A bearish morning saw Ripple’s XRP slide from an early intraday high $0.28310 to a late morning intraday low $0.26622.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2749 and the second major support level at $0.2677.

Finding support through the afternoon, Ripple’s XRP recovered to an afternoon high $0.2750 before easing back.

At the time of writing, Ripple’s XRP was up by 0.21% to $0.27228. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.27299 to a low $0.26881 before finding support.

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

For the day ahead, a move through to $0.2740 levels would support a run at the first major resistance level at $0.2811.

Ripple’s XRP would need the support of the broader market, however, to break through to $0.28 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of Thursday’s high $0.2831.

Failure to move through to 0.2740 levels could see Ripple’s XRP slide back into the red.

A fall through the morning low $0.26881 would bring the first major support level at $0.2642 into play.

Barring another extended sell-off, 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

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US