Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/11/19

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rose by 0.87% on Saturday. Partially reversing a 4.89% slide Friday, Bitcoin Cash ABC ended the day at $264.76.

It was a relatively bullish start to the day. Bitcoin Cash ABC rose from an early intraday low $262.48 to a late morning intraday high $267.00 before easing back.

Bitcoin Cash ABC left the major support and resistance levels untested before falling back to $263 levels.

A relatively range-bound second half of the day saw Bitcoin Cash ABC move back through to $265 levels before easing back.

At the time of writing, Bitcoin Cash ABC was flat at $264.76. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $265.2 before easing back to a low $264.76.

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

For the day ahead, a move back through to $265 levels would support a run at the first major resistance level at $267.01

Support from the broader market would be needed, however Bitcoin to break out from the morning high.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $267 would likely limit any upside.

In the event of a breakout, the second major resistance level at $269.27 and $270 levels would likely come into play.

Failure to move back through to $265 levels could see Bitcoin Cash ABC hit reverse.

A fall back through to $263 levels would bring the first major support level at $262.49 into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin Cash ABC should steer clear of sub-$260 levels. The second major resistance level at $260.23 would likely limit any downside.

Litecoin Returns $58 Levels

Litecoin rose by 1.20% on Saturday. Partially reversing a 2.36% fall from Friday, Litecoin ended the day at $58.21.

A mixed start to the day saw Litecoin fall to an early morning intraday low $57.06 before finding support.

Steering clear of the first major support level at $55.52, Litecoin rose to a late morning intraday high $58.91.

Falling short of the first major resistance level at $60.11, Litecoin fell back to $57 levels.

Through the 2^nd half of the day, Litecoin struck a high $58.58 before easing back. Support at $58 delivered the upside on the day.

At the time of writing, Litecoin was up by 0.05% to $58.24. A mixed start to the day saw Litecoin rise to an early morning high $58.65 before falling to a low $58.16.

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

For the day ahead, Litecoin would need to hold onto $58 levels to support a run at the first major resistance level at $59.06.

Support from the broader market would be needed, however, for Litecoin to break out from Saturday’s high $58.91.

In the event of a broad-based crypto rally, the second major resistance level at $59.91 and Friday’s high $60.68 could come into play.

Failure to hold onto $58 levels would bring the first major support level at $57.21 into play before any recovery.

Barring a broad-based crypto sell-off, Litecoin should steer clear of sub-$56 levels. The second major support level at $56.21 should limit any downside.

Ripple’s XRP Visits sub-$0.26

Ripple’s XRP rose by 0.91% on Saturday. Partially reversing a 2.65% decline from Friday, Ripple’s XRP ended the day at $0.26325.

A bullish start to the day saw Ripple’s XRP rise from an early intraday low $0.25918 to a late morning intraday high $0.26480.

Ripple’s XRP left the major support and resistance levels untested before easing back.

A midday pullback into negative territory was short-lived, with Ripple’s XRP finding support in the 2^nd half of the day to wrap up the day in the green.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.2635. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26427 before falling to a low $0.26245.

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

For the day ahead, Ripple’s XRP would need to move back through to $0.2640 levels to support a run at the first major resistance level at $0.2656

Support from the broader market would be needed, however for Ripple’s XRP to break through to $0.2650 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely fall short of $0.27 levels for a 2^nd consecutive day.

The second major resistance level at $0.2680 would likely limit any upside on the day.

Failure to move back through to $0.2640 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.26245 would bring the first major resistance level at $0.2600 into play.

Barring a crypto meltdown, 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