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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 26/11/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC rallied by 3.82% on Monday. Reversing a 5.69% slide from Sunday, Bitcoin Cash ABC ended the day at $208.68.

A choppy start to the day saw Bitcoin Cash ABC slide from $207 levels to an early morning intraday low and new swing low $192.6.

Finding support at the first major support level at $197.41, Bitcoin Cash ABC bounced back to a mid-afternoon intraday high $216.19.

Bitcoin Cash ABC broke through the first major resistance level at $211.07 and Sunday’s high $214.66 before easing back.

Through the latter part of the day, Bitcoin Cash ABC fell back to $208 levels to limit the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.56% to $209.85. A range-bound start to the day saw Bitcoin Cash ABC rise from an early morning low $208.99 to a high $209.86 before easing back.

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

For the day ahead, a move back through to $210 levels would support a run at the first major resistance level at $219.05.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from Monday’s high $216.19.

Barring an extended rally through the day, resistance at $216 levels would likely limit any upside.

Litecoin Tracks the Pack

Litecoin rallied by 3.64% on Monday. Partially reversing an 8.91% slide from Sunday, Litecoin ended the day at $45.54.

A particularly bearish start to the day saw Litecoin slide to an early morning intraday low and new swing low $42.16.

Litecoin fell through the first major support level at $42.24 before finding support from the broader market.

The crypto rebound saw Litecoin bounce back to a late afternoon intraday high $47.50.

Breaking back through the first major support level, Litecoin also broke through the first major resistance level at $47.00.

Through the latter part of the day, Litecoin a pullback to sub-$46 levels limited the upside on the day.

At the time of writing, Litecoin was up by 1.27% to $46.12. A relatively bullish start to the day saw Litecoin rise from an early morning low $45.28 to a high $46.27.

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

For the day ahead, a move through to $46.50 levels would support a run at the first major resistance level at $47.97.

Litecoin would need the support of the broader market to break out from Monday’s high $47.50.

In the event of an extended rally through the day, Litecoin could visit $48 levels before any pullback.

Failure to move through to $46.50 levels could see Litecoin slide into the red. A fall through the morning low $45.28 to $44 levels would bring the first major support level at $42.63 into play.

Barring a crypto meltdown, however, Litecoin should continue to steer clear of sub-$40 levels.

Ripple’s XRP Sees Green Early

Ripple’s XRP fell by 1.50% on Monday. Following on from a 5.8% slide on Sunday, Ripple’s XRP ended the day at $0.21860.

A particularly bearish start to the day saw Ripple’s XRP slide to an early morning intraday low and new swing lo $0.20256.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2159 and the second major support level at $0.2100.

Finding support through the late morning, Ripple’s XRP bounced back to an early afternoon intraday high $0.22693.

Whilst breaking back through the support levels, Ripple’s XRP came up short of the first major resistance level at $0.2322.

Through the latter part of the day, profit-taking pressured Ripple’s XRP which fell back to sub-$0.22 levels and into the red.

At the time of writing, Ripple’s XRP was up by 0.24% to $0.21912. A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.21470.

Steering clear of the major support levels, Ripple’s XRP struck a morning high $0.22057.

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

For the day ahead, a move back through to $0.22 levels would support a run at the first major resistance level at $0.2295.

Ripple’s XRP would need the support of the broader market, however, to break out from Monday’s high $0.22693.

Barring a broad-based crypto rebound, resistance at $0.22 levels would likely leave resistance levels untested.

In the event of a crypto rebound, Ripple’s XRP could visit $0.23 levels before any pullback.

Failure to move back through to $0.22 levels could see Ripple’s XRP fall for a 3rd consecutive day.

A fall back through the morning low $0.21470 would bring the first major support level at $0.2051 into play.

Barring a crypto meltdown, however, Ripple’s XRP should continue to steer clear of sub-$0.20 levels.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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