Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 27/11/19

Bitcoin Cash – ABC – Slides Back into the Red

Bitcoin Cash ABC rose by 1.79% on Tuesday. Following on from a 3.82% rally on Monday, Bitcoin Cash ABC ended the day at $212.74.

A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $214.0 before easing back.

Falling short of the first major resistance level at $219.05, Bitcoin Cash ABC fell to an early afternoon intraday low $208.63.

Steering clear of the first major support level at $195.46, Bitcoin Cash ABC broke back through to $212 levels and back into positive territory for the day.

At the time of writing, Bitcoin Cash ABC was down by 1.95% to $208.59. A bearish start to the day saw Bitcoin Cash ABC fall from an end of Monday $212.74 to an early low $208.59.

Bitcoin Cash ABC fell through the first major support level at $209.58 early on.

For the day ahead, Bitcoin Cash ABC would need to move through the first major support level to $212 levels to support a bullish day ahead.

A move through to $212 levels would bring the firsts major resistance level at $214.95 into play.

Barring a broad-based crypto rally, Tuesday’s high $214 and first major resistance level would likely limit any upside.

Failure to move through to $212 levels could see Bitcoin Cash ABC slide deeper into the red.

A fall through to $207 levels would bring the second major support level at $206.42 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$200 for a 2^nd consecutive day.

Litecoin Hits Reverse

Litecoin rose by 3.14% on Tuesday. Following on from a 3.64% rally on Monday, Litecoin ended the day at $46.99.

A bullish start to the day saw Litecoin rally from an early morning intraday low $45.28 to a mid-morning intraday high $47.64.

Steering clear of the major support levels, Litecoin came within range of the first major resistance level at $47.97.

A pullback through the middle of the day saw Litecoin fall to $45 levels before finding support late in the day.

Litecoin bounced back to $47 levels before easing back to $46 levels at the day end.

At the time of writing, Litecoin was down by 2.28% to $45.92. A bearish start to the day saw Litecoin slide from an early morning high $47.09 to low $45.72.

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

For the day ahead, a move back through to $46.70 levels would bring the first major resistance level at $47.99 into play.

Litecoin would need the support of the broader market, however, to break back through to $47 levels.

Barring a broad-based crypto rebound, Litecoin would likely come up short of $48 levels for a 2^nd consecutive day.

Failure to move back through to $46.70 levels could see Litecoin struggle throughout the day.

A fall back through the morning low $45.72 would bring the first major support level at $45.63 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $44.28.

Ripple’s XRP Gives up on $0.22 Levels

Ripple’s XRP rose by 1.37% on Tuesday. Partially reversing a 1.50% fall from Monday, Ripple’s XRP ended the day at $0.22161.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.21470 before finding support.

Steering clear of the first major support level at $0.2051, Ripple’s XRP rose to a mid-morning intraday high $0.2230.

Falling short of the first major resistance level at $0.2295, Ripple’s XRP eased back to sub-$0.22 levels before finding support late in the day.

A late move back through to $0.22 levels delivered the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.65% to $0.22017. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.21950 before striking a high $0.22499.

Steering clear of the major support levels, Ripple’s XRP came up against the first major resistance level at $0.2248.

For the day ahead, a move back through to $0.22 levels would support another run at the first major resistance level at $0.2248.

Ripple’s XRP would need the support of the broader market, however, to break out from $0.2200.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to move back through to $0.22 levels could see Ripple’s XRP slide deeper into the red.

A fall through the morning low $0.21950 would bring the first major support level at $0.2165 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2115.

Please let us know what you think in the comments below

Thanks, Bob