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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 11/10/19

Bob Mason

Bitcoin Cash – ABC – Visits sub-$230

Bitcoin Cash ABC slid by 3.75% on Thursday. Reversing a 2.98% gain from Wednesday, Bitcoin Cash ABC ended the day at $230.99.

A bearish start to the day saw Bitcoin Cash ABC slide from an early morning intraday high $240 to a mid-day intraday low $230.06.

Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $230.48.

Through the 2nd half of the day, Bitcoin Cash ABC managed to hit a high $232.61 before easing back.

The first major support level at $230.48 provided further support through the afternoon to limit the downside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.1% to $231.22. A bearish start to the day saw Bitcoin Cash ABC slide to an early morning low $226.64.

Bitcoin Cash ABC fell through the first major support level at $227.37 before striking a morning high $231.22.

In spite of the recovery, Bitcoin Cash ABC came up short of the first major resistance level at $237.31.

For the day ahead, a move through to $234 levels would support a run at the first major resistance level.

Bitcoin Cash ABC would need the support of the broader market, however, to break out from current levels.

Barring a broad-based crypto rally, the first major resistance level would likely pin Bitcoin Cash ABC back from $240 levels.

Failure to move through to $234 levels could see Bitcoin Cash ABC fall back into the red. A fall back through the first major support level at $227.37 would bring the second major support level at $223.74 into play.

Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$220 levels on the day.

Litecoin Holds Steady

Litecoin fell by 2.56% on Thursday. Partially reversing a 3.98% rally from Wednesday, Litecoin ended the day at $57.77.

A bearish morning saw Litecoin fall from an early morning intraday high $59.49 to a mid-day low $57.51.

Steering clear of the first major support level at $57.20, Litecoin recovered to an afternoon high $58.28 before hitting reverse.

The reversal saw Litecoin fall through the first major support level at $57.20 to a late intraday low $57.14.

At the time of writing, Litecoin was down by 0.09% to $57.72. A choppy start to the day saw Litecoin fall to an early morning low $56.92 before striking a morning high $57.83.

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

For the day ahead, a move through to $58.20 levels would support a run at the first major resistance level at $59.13.

Litecoin would need the support of the broader market, however, to break out from the morning high $57.83.

In the event of a broad-based crypto rally, Litecoin could test the second major resistance level at $60.48 before any pullback.

Failure to move through to $58.20 levels could see Litecoin fall deeper into the red. A fall through the morning low $56.92 would bring the first major support level at $56.78 into play.

Barring a crypto meltdown, Litecoin should steer clear of sub-$56 support levels on the day.

Ripple’s XRP Revisits sub-$0.27

Ripple’s XRP slid by 3.66% on Thursday. Reversing a 1.23% gain from Wednesday, Ripple’s XRP ended the day at $0.27170.

A bearish morning saw Ripple’s XRP slide from an early intraday high $0.28310 to a late morning intraday low $0.26622.

Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2749 and the second major support level at $0.2677.

Finding support through the afternoon, Ripple’s XRP recovered to an afternoon high $0.2750 before easing back.

At the time of writing, Ripple’s XRP was up by 0.21% to $0.27228. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.27299 to a low $0.26881 before finding support.

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

For the day ahead, a move through to $0.2740 levels would support a run at the first major resistance level at $0.2811.

Ripple’s XRP would need the support of the broader market, however, to break through to $0.28 levels.

Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of Thursday’s high $0.2831.

Failure to move through to 0.2740 levels could see Ripple’s XRP slide back into the red.

A fall through the morning low $0.26881 would bring the first major support level at $0.2642 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2568.

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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