Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/11/19

Bitcoin Cash – ABC – Sinks Again

Bitcoin Cash ABC tumbled by 7.72% on Friday. Following on from a 7.59% slide on Thursday, Bitcoin Cash ABC ended the day at $208.68.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $229.14 before hitting reverse.

Falling short of the first major resistance level at $240.42, Bitcoin Cash ABC tumbled to an early afternoon intraday low $194.53.

Amidst a crypto meltdown, Bitcoin Cash ABC fell through the major support levels of the day.

The broader market did provide support through the 2^nd half of the day, however. Bitcoin Cash ABC broke back through the third major support level at $178.88 and second major support level at $204.43 to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was down by 1.15% to $206.27. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $206.59 to a low $204.33 before finding support.

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

For the day ahead, a move through to $211 levels would support a run at the first major resistance level at $227.04.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $210 levels.

Barring a broad-based crypto rebound, resistance at $210 levels would likely pin Bitcoin Cash ABC back on the day.

Failure to move through to $211 levels could see Bitcoin Cash ABC spend a 6^th consecutive day in the red.

A fall back through to sub-$200 levels would bring the first major support level at $192.43 into play.

Barring yet another crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$180 support levels.

Litecoin Tanks

Litecoin slid by 6.31% on Friday. Following on from a 7.78% tumble on Thursday, Litecoin ended the day at $47.4.

Another relatively range-bound start to the day saw Litecoin rise from a mid-morning low $48.77 to a late morning intraday high $51.67.

Falling short of the first major resistance level at $54.46, Litecoin tumbled to a mid-afternoon intraday low $43.55.

Litecoin fell through the first major support level at $47.45 and the second major support level at $44.31 before finding support.

If the bulls thought that Thursday was a tough day, Friday’s sell-off saw Litecoin at levels not seen since February…

Through the 2^nd half of the day, Litecoin broke back through the third and second major support levels to hit $48 levels.

A late pullback left Litecoin at $47 levels, however.

At the time of writing, Litecoin was down by 1.22% to $46.82. A bearish start to the day saw Litecoin fall from an early morning high $47.52 to a low $46.54.

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

For the day ahead, a move back through the morning high would support a run at the first major resistance level at $51.53.

Litecoin would need the support of the broader market to break through to $50 levels.

Barring a broad-based crypto rebound, however, the morning high $47.52 would likely cap any upside.

Failure to move through the morning high could see Litecoin fall deeper into the red.

A fall back through the morning low to sub-$45 would bring the first major support level at $43.41 into play.

Barring an extended sell-off through the day, Litecoin should steer clear of sub-$43 levels.

Ripple’s XRP Visits sub-$0.22

Ripple’s XRP slid by 5.61% on Friday. Following on from a 2.31% decline on Thursday, Ripple’s XRP ended the day at $0.23126.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.24707 before succumbing to market forces.

Falling short of the first major resistance level at $0.2539, Ripple’s XRP slid to a mid-afternoon intraday low $0.22249.

Ripple’s XRP fell through the first major support level at $0.2364 and the second major support level at $0.2278.

It was a first visit to sub-$0.23 levels since September.

Through the latter part of the day, Ripple’s XRP broke back through the second major support level to end the day at $0.23 levels.

At the time of writing, Ripple’s XRP was down by 0.1% to $0.23124. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.22757 before striking a morning high $0.23202.

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

For the day ahead, a move through to $0.2340 levels would support a run at the first major resistance level at $0.2447.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.23202.

Barring a broad-based crypto rebound on the day, resistance at $0.24 would likely limit any upside.

Failure to move through to $0.2340 levels could see Ripple’s XRP spend a 4^th consecutive day in the red.

A fall back through the morning low $0.22757 would bring the first major support level at $0.2201 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.22 levels on the day.

Please let us know what you think in the comments below

Thanks, Bob