FXEMPIRE
All

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

It’s a mixed start to the day for the majors, with the broader market seeing red through the morning. Heavy losses could be on the cards following Sunday’s moves.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

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.

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

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