Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/11/19
It’s another bearish start to the day. Following Saturday’s gains, a late morning move through to key levels would likely draw in more sidelined investors.
Bitcoin Cash – ABC – Back in the Red
Bitcoin Cash ABC rallied by 4.10% on Saturday. Partially reversing a 7.72% tumble from Friday, Bitcoin Cash ABC ended the day at $215.06.
A bearish start to the day saw Bitcoin Cash ABC fall to a late morning intraday low $202.36 before finding support.
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Steering clear of the first major support level at 192.43, Bitcoin Cash ABC rallied to a late afternoon intraday high $218.0.
In spite of the breakout from $210 levels, Bitcoin Cash ABC fell short of the first major resistance level at $227.04.
Late in the day, Bitcoin Cash ABC fell back to $211 levels before wrapping up the day at $215 levels.
At the time of writing, Bitcoin Cash ABC was down by 1.99% to $210.78. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $214.66 to a low $210.78.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through to $212 levels would support a run at the first major resistance level at $221.25.
Bitcoin Cash ABC would need the support of the broader market to break out from Saturday’s high $218.
Barring a broad-based crypto rally, however, Bitcoin Cash ABC would likely fall short of $220 levels on the day.
Failure to move through to $211 levels could see Bitcoin Cash ABC fall deeper into the red.
A fall through to sub-$210 levels would bring the first major support level at $205.61 into play before any recovery.
Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$200 support levels on the day.
Litecoin Sees more Red
Litecoin rose by 1.64% on Saturday. Partially reversing a 6.31% slide from Friday, Litecoin ended the day at $48.22.
A relatively range-bound morning saw Litecoin fall to a late morning intraday low $46.33 before finding support.
Steering clear of the first major support level at $43.41, Litecoin rose to a late afternoon intraday high $48.65.
In spite of the upward move, Litecoin fell short of the first major resistance level at $51.33.
A late pullback to sub-$48 levels was short-lived, with Litecoin recovering to $48 levels ahead of the day end.
At the time of writing, Litecoin was down by 0.68% to $47.89. A bearish start to the day saw Litecoin fall from an early morning high $48.34 to a low $47.26.
Litecoin left the day’s major support and resistance levels untested early on.
For the day ahead, a move back through to $48 levels would bring the first major resistance level at $49.14 into play.
Litecoin would need the support of the broader market, however, to break out from Saturday’s high $48.65.
Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside on the day.
Failure to move back through to $48 levels could see Litecoin spend another day in the red.
A fall back through to sub-$47.70 levels would bring the first major support level at $46.82 into play.
Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$46 support levels.
Ripple’s XRP revisits $0.22 Levels
Ripple’s XRP rose by 1.9% on Saturday. Partially reversing a 5.61% slide from Friday, Ripple’s XRP ended the day at $0.23557.
A mixed start to the day saw Ripple’s XRP rise to an early high $0.23307 before falling to a late morning intraday low $0.22683.
Steering clear of the first major support level at $0.2201, Ripple’s XRP bounced back to a late afternoon intraday high $0.2370.
Falling short of the first major resistance level at $0.2447, Ripple’s XRP eased back to $0.2320 levels.
Support from the broader market led to a move through to $0.2350 levels in the final hour.
At the time of writing, Ripple’s XRP was down by 1.39% to $0.23230. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.23647 to a low $0.22991.
Falling short of the major resistance levels, Ripple’s XRP came within range of the first major support level at $0.2293.
For the day ahead, a move back through to $0.2330 levels would support a run at the first major resistance level at $0.2394.
Ripple’s XRP would need the support of the broader market, however, to break out from Saturday’s high $0.2370.
Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.24 levels for a 2nd consecutive day.
Failure to move back through to $0.2330 levels could see Ripple’s XRP slide deeper into the red.
A fall through the morning low $0.2299 would test the first major support level at $0.2293 for a 2nd time.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2230.
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Thanks, Bob
