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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/11/19

Bob Mason

Bitcoin Cash – ABC – Finds Support

Bitcoin Cash ABC fell by 0.10% on Wednesday. Following on from a 0.66% fall on Tuesday, Bitcoin Cash ABC ended the day at $241.38.

A mixed start to the day saw Bitcoin Cash ABC slide to a late morning intraday low $238.97 before finding support.

Steering clear of the first major support level at $233.89, Bitcoin Cash ABC rallied to a late afternoon intraday high $246.46.

In spite of the rebound, Bitcoin Cash ABC came up short of the first major resistance level at $248.20.

Through the latter part of the day, Bitcoin Cash ABC eased back to $241 levels to end the day in the red.

At the time of writing, Bitcoin Cash ABC was up by 1.53% to $245.08.  A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $243.82 to a high $245.08.

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

For the day ahead, Bitcoin Cash ABC would need to hold onto $245 levels to support a run at the first major resistance level at $245.57.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at Wednesday’s high $246.46.

Barring an extended rally through the day, the first major resistance level would likely cap any upside on the day.

Failure to hold onto $245 levels could see Bitcoin Cash ABC give up the early gains.

A fall through to $242.20 levels would bring the first major support level at $238.08 into play before any recovery.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of sub-$238 levels.

Litecoin Struggles at $55

Litecoin slipped by 0.36% on Wednesday. Partially reversing a 1.18% fall from Tuesday, Litecoin ended the day at $54.87.

A choppy morning saw Litecoin rise to an early morning intraday high $56.12 before hitting reverse.

Coming up against the first major resistance level at $56.11, Litecoin fell back to a mid-afternoon intraday low $54.54.

In spite of the pullback, Litecoin steered clear of the first major support level at $54.05.

In the latter part of the day, a brief visit to $55.6 levels was short-lived. Litecoin fell back to sub-$55 levels to end the day in the red.

At the time of writing, Litecoin was down by 0.2% to $54.86. A mixed start to the day saw Litecoin fall to an early morning low $54.61 before striking a high $55.18.

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

For the day ahead, a move through to $55.20 levels would support a run at the first major resistance level at $55.81.

Litecoin would need the support of the broader market, however, to break out from the morning high $55.18.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $56.12 would likely cap any upside.

Failure to move through to $55.20 levels could see Litecoin fall deeper into the red.

A fall back through the morning low $54.61 would bring the first major support level at $54.23 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$54 levels for a 3rd consecutive day.

Ripple’s XRP Holds onto $0.25

Ripple’s XRP fell by 1.65% on Wednesday. Reversing a trend-bucking 0.95% gain on Tuesday, Ripple’s XRP ended the day at $0.2508.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.25933 before hitting reverse.

Falling short of the first major resistance level at $0.2657, Ripple’s XRP slid to a late morning low $0.24922.

Steering clear of the first major support level at $0.2467, Ripple’s XRP recovered to $0.25 levels going into the afternoon.

Through the 2nd half of the day, Ripple’s XRP slid back to an early evening intraday low $0.24899.

Continuing to steer clear of the major support levels, Ripple’s XRP moved back through to $0.25 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.39% to $0.25177. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.24926 before striking a high $0.25424.

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

For the day ahead, a move back through to $0.2530 levels would support a run at the first major resistance level at $0.2571.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.25424.

Barring an extended rally through the day, Ripple’s XRP would likely fall short of $0.26 levels for a 3rd consecutive day.

Failure to move back through to $0.2530 levels could see Ripple’s XRP slide back into the red.

A fall back to sub-$0.25 levels would bring the first major support level at $0.2468 into play before any recovery.

Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2427.

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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