Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 14/11/19

It’s yet another bearish start to the day for the majors. Failure to move through to key levels could lead to a heavy slide later in the day.
Bob Mason
crypto currency mining concept

Bitcoin Cash – ABC – Continues to Struggle

Bitcoin Cash ABC fell by 1.58% on Wednesday. Reversing a 1.35% gain from Tuesday, Bitcoin Cash ABC ended the day at $284.43.

A bearish start to the day saw Bitcoin Cash ABC fall from an early morning intraday high $289.0 to an early morning low $284.

Steering clear of the major support and resistance levels, Bitcoin Cash ABC recovered to $289 levels by late morning.

Falling short of $290 levels, Bitcoin Cash ABC slid to a late intraday low $281.23 before finding support. Bitcoin Cash ABC fell through the first major support level at $281.97 before a final hour move back to $284 levels.

At the time of writing, Bitcoin Cash ABC was down by 0.5% to $283.00. Another bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $284.91 to a low $283.0.

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

For the day ahead, a move through to $285 levels would support a run at the first major resistance level at $288.54.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from $285 levels.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $289.0 would likely cap any upside.

Failure to move through to $285 levels could see Bitcoin Cash ABC fall deeper into the red.

A pullback to $282 levels would bring the first major support level at $280.77 into play before any recovery.

Barring an extended sell-off through the day, however, Bitcoin Cash ABC hold above the second major support level at $277.12.

Litecoin Stuck at sub-$61 Levels

Litecoin fell by 0.93% on Wednesday. Following on from a 0.55% fall on Tuesday, Litecoin ended the day at $60.84.

A choppy morning saw Litecoin fall to a morning low $60.76 before striking a late morning intraday high $61.93.

Falling short of the first major resistance level at $62.55, Litecoin slid to an early afternoon intraday low $60.36.

In spite of the pullback, Litecoin steered clear of the first major support level at $59.92. Range-bound through the rest of the day, Litecoin hit $61 levels late on before easing back.

At the time of writing, Litecoin was down by 0.16% to $60.74. A mixed start to the day saw Litecoin rise to an early morning high $60.98 before falling to a low $60.52.

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

For the day ahead a move through to $60.90 levels would support a run at the first major resistance level at $61.81.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $60.98.

Barring a broad-based crypto rally, Litecoin would likely fall short of $62 levels for a 2nd consecutive day.

The first major resistance level and Wednesday’s high $61.93 would likely limit any upside on the day.

Failure to move back through to $60.90 levels could see Litecoin spend a 4th consecutive day in the red.

A fall back through the morning low $60.50 would bring the first major support level at $60.00 into play.

Barring an extended sell-off through the day, however, Litecoin should steer clear of the second major support level at $59.15.

Ripple’s XRP Holds onto $0.27

Ripple’s XRP rose by 0.08% on Wednesday. Following a 0.79% decline on Tuesday, Ripple’s XRP ended the day at $0.27295.

A mixed start to the day saw Ripple’s XRP rally from an early morning intraday low $0.27084 to a mid-morning intraday high $0.27588.

Falling short of the first major resistance level at $0.2767, Ripple’s XRP slid to back an early afternoon low $0.27121.

Steering clear of the first major support level at $0.2681, Ripple’s XRP briefly returned to $0.274 levels before sliding back to $0.272 levels.

At the time of writing, Ripple’s XRP was down by 0.16% to $0.27250. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.27466 before falling to a low $0.27250.

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

For the day ahead, a move through to $0.2735 would bring the first major resistance level at $0.2756 into play.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.27466.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.28 levels for a 3rd consecutive day.

The second major resistance level at $0.2783 would likely cap any upside on the day.

Failure to move through to $0.2735 levels could see Ripple’s XRP resume the downward trend of the week.

A fall back through Wednesday’s low $0.27084 would bring the first major support level at $0.2706 into play.

Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of sub-$0.27 support levels.

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