Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/11/19

Bitcoin Cash – ABC – Sees Red

Bitcoin Cash ABC fell by 2.28% on Thursday. Partially reversing a 5.63% rally from Wednesday, Bitcoin Cash ABC ended the day at $216.42.

A mixed start to the day saw Bitcoin Cash ABC fall from an early morning high $221.47 to a mid-day low $217.00.

Steering clear of the first major support level at $208.11, Bitcoin Cash ABC recovered to a mid-afternoon intraday high $222.98.

Falling short of the first major resistance level at $229.11, however, Bitcoin Cash ABC slid back sub-$220 levels.

The late pullback saw Bitcoin Cash ABC fall to an intraday low $216.42 and back into the red. In spite of the reversal, Bitcoin Cash ABC managed to steer clear of the first major support level at $208.11.

For the day ahead, Bitcoin Cash ABC would need to move through to $218.60 levels to support a run at the first major resistance level at $220.79.

Bitcoin Cash ABC would need the support of the broader market, however, to break through to $220 levels.

Barring an extended rally, the first major resistance level and Thursday’s high $222.98 would likely limit any upside.

Failure to move through to $218.60 levels could see Bitcoin Cash ABC take a hit for a 2^nd consecutive day.

A fall through Thursday’s low $216.42 would bring the first major support level at $214.23 into play.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $212.05.

Litecoin back at sub-$48

Litecoin fell by 1.86% on Thursday. Following on from a 1.72% decline on Wednesday, Litecoin ended the day at $46.91.

A mixed start to the day saw Litecoin strike an early morning intraday high $48.12 before hitting reverse.

Falling short of the first major resistance level at $49.55, Litecoin slid to a mid-day low $46.78.

In spite of the sell-off, Litecoin steered clear of the first major support level at $45.32 to move back to $47 levels.

Resistance at $48 pinned Litecoin back in the 2^nd half of the day, however, leading to a late slid to an intraday low $46.26.

While continuing to steer clear of the major support levels, the late pullback left Litecoin in the red for the day.

At the time of writing, Litecoin was up by 1.47% to $47.60. A bullish start to the day saw Litecoin rise from an early morning low $46.84 to a high $47.68.

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

For the day ahead, Litecoin would need to steer clear of sub-$47.10 levels to support the recovery of Thursday’s loss.

A move back through the morning high $47.68 would bring the first major resistance level at $47.93 into play.

Litecoin would need the continued support of the broader market, however, to break through to $48 levels.

Barring an extended rally, the first major resistance level and Thursday’s high $48.12 would likely cap any upside.

Failure to steer clear of sub-$47.10 levels could see Litecoin hit reverse.

A fall through the morning low $46.84 would bring the first major support level at $46.07 into play before any recovery.

Barring a crypto meltdown, however, Litecoin should steer well clear of sub-$46 support levels.

Ripple’s XRP Tracks the Pack

Ripple’s XRP fell by 0.43% on Thursday. Partially reversing a 1.49% gain from Wednesday, Ripple’s XRP ended the day at $0.22403.

A choppy start to the day saw Ripple’s XRP fall to an early morning low $0.22467 before finding support.

Steering clear of the first major support level at $0.2158, Ripple’s XRP struck a mid-morning intraday high $0.23082.

In spite of the morning spike, Ripple’s XRP fell short of the first major resistance level at $0.2324.

Through the late morning, Ripple’s XRP fell back to $0.2250 levels before finding support through the afternoon.

Ripple’s XRP broke back through to $0.23 levels, with a 2^nd half of a day high $0.23048 before hitting reverse

The reversal saw Ripple’s XRP fall to a late intraday low $0.22383 and into the red for the day. Ripple’s XRP steered clear of the first major support level at $0.2158 in spite of the late pullback.

At the time of writing, Ripple’s XRP was up by 1.08% to $0.22646. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22365 to a high $0.22710.

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

For the day ahead, a move back through the morning high would bring the first major resistance level at $0.2286 into play.

Ripple’s XRP would need the support of the broader market, however, to break out form $0.2270 levels.

In the event of an extended rally on the day, Ripple’s XRP would likely test the second major resistance level at $0.2332.

Failure to move back through to $0.2270 levels could see Ripple’s XRP hit reverse.

A fall back through the morning low $0.22365 would bring the first major support level at $0.2216 into play.

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

Please let us know what you think in the comments below

Thanks, Bob