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

It’s a mixed start to the day for the majors. Support should kick in should the trio move through key levels by late morning…
Bob Mason
Crypto00 567

Bitcoin Cash – ABC – Tanks

Bitcoin Cash ABC tumbled by 7.27% on Monday. Following on from last week’s 8.63% slide, Bitcoin Cash ABC ended the day at $246.28.

A bearish start saw Bitcoin Cash ABC fall from an early intraday high $265.60 to a late morning low $260.95.

Bitcoin Cash ABC fell through the first major support level at $262.06 before finding support.

A move back through the first major support level was brief, however. Succumbing to market forces, Bitcoin Cash ABC slid to a late afternoon intraday low $239.50.

Bitcoin Cash ABC fell through the major support levels before finding support late in the day.

Even a late break back through the third major support level at $246.63 was short-lived…

At the time of writing, Bitcoin Cash ABC was up by 0.18% to $246.71. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $246.51 before striking a high $247.52.

Bitcoin Cash ABC left the major support end resistance levels untested before easing back.

For the day ahead, a move through to $250 levels would support a run at the first major resistance level at $261.42.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from $250 levels.

Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of the first major resistance level at $261.42.

Failure to move back through to $250 levels could see Bitcoin Cash ABC struggle throughout the day.

A fall back through Monday’s low $239.5 would bring the first major support level at $235.32 into play.

Barring another crypto meltdown, Bitcoin Cash ABC would steer clear of sub-$230 support levels on the day.

Litecoin Visits sub-$54 Levels

Litecoin slid by 5.88% on Monday. Following on from a 7.01% tumble last week, Litecoin ended the day at $55.72.

A bullish start to the day saw Litecoin rise to an early morning intraday high $59.30 before hitting reverse.

Falling short of the first major resistance level at $60.30, Litecoin tumbled to a late afternoon intraday low $53.89.

Litecoin fell through the major support levels before making a partial recovery late in the day.

Finding late support from the broader market, Litecoin broke back through the third major support level at $54.00.

At the time of writing, Litecoin was up by 0.11% to $55.78. A relatively range-bound start to the day saw Litecoin rise from an early morning low $55.57 to a high $56.11.

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

For the day ahead, a move through to $56.30 levels would support a run at the first major resistance level at $58.72.

Support from the broader market would be needed, however, for Litecoin to break through to $58 levels.

Barring an extended rally through the day, Litecoin would likely fall well short of Monday’s high $59.30.

Failure to move through to $56.30 levels could see Litecoin slide back into the red.

A fall back through to sub-$55 levels would bring the first major support level at $53.31 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of sub-$53 levels on the day.

Ripple’s XRP Visits sub-$0.25

Ripple’s XRP fell by 4.41% on Monday. Following on from a 5.61% decline last, Ripple’s XRP ended the day at $0.25245.

Bearish through the day, Ripple’s XRP fell from an early morning intraday high $0.26424 to a late afternoon intraday low $0.24200.

Ripple’s XRP fell through the day’s major support levels before making a partial recovery late in the day.

Finding support from the broader market, Ripple’s XRP broke back through the third major support level at $0.2490.

It was of little consolation on the day, however. Resistance at the second major support level at $0.2563 limited a more meaningful recovery late on.

At the time of writing, Ripple’s XRP was down by 0.02% to $0.25240. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.2540 before falling to a low $0.25153.

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

For the day ahead, a move back through to $0.2530 levels would support a run at the first major resistance level at $0.2638.

Ripple’s XRP would need the support of the broader market to break through to $0.26 levels.

Barring a broad-based crypto rebound, however, Ripple’s XRP would likely fall short of the first major resistance level.

Failure to move through to $0.2530 levels could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.25153 would bring the first major support level at $0.2416 into play.

Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of sub-$0.24 support levels.

Please let us know what you think in the comments below

Thanks, Bob

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