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

By:
Bob Mason
Published: Nov 14, 2019, 03:09 UTC

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.

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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.

BCHABC/USD 14/11/19 Daily Chart

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.

LTC/USD 14/11/19 Daily Chart

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.

XRP/USD 14/11/19 Daily Chart

Please let us know what you think in the comments below

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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