Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 25/11/18

Bitcoin Cash – ABC Tanks

Bitcoin Cash ABC slumped again on Saturday, sliding by 14.26% off the back of a 1.66% fall on Friday, to end the day at $174.57.

A bullish start to the day saw Bitcoin Cash ABC move through to an early morning intraday high $211.33, breaking through the day’s first major resistance level at $209.21 before easing back to a relatively range bound afternoon.

Tracking the broader market, a late in the day sell-off saw Bitcoin Cash ABC tumble through the day’s major support levels to an intraday low $161.85, before recovering to $170 levels, the combined value of BCH ABC and SV sitting at a lowly $229.83, quite a fall from the $500 levels pre-fork.

At the time of writing, BCH ABC was down 5.2% to $165.5, a mixed start to the day seeing BCH AB rise to a morning high $183.43 before sliding to a morning low $165.47, the days major support and  resistance levels left untested early on.

For the day ahead, a move back through the morning high $183.43 would support an afternoon rebound, with BCH ABC needing to move through to $183 levels by early afternoon to support a run at $200 levels to bring the day’s first major resistance level at $203.32 into play before any pullback.

Failure to move back through to $183 levels could see BCH ABC linger deep in the red, with a fall through to $162 levels likely to bring the day’s first major support level at $153.84 and $140 levels in play before any recovery.

Litecoin Hits the $20s

Litecoin slid by 9.86% on Saturday, reversing Friday’s 1.15% gain with interest, to end the day at $28.6, marking its first visit to the $20s since mid-June of last year.

After rising to a start of a day intraday high $32.98, a reverse bias returned, with Litecoin easing back through the day ahead of a late in the day broad based sell-off that saw Litecoin slide through the first major support level at $30.42 and second major support level at $29.16 to an intraday low and new swing lo $27.67 before steadying.

At the time of writing, Litecoin was down 4.34% to $27.36, with Litecoin rising to a morning high $28.99 before sliding back to a morning low $27.1, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through the morning high $28.99 to $29.75 would bring $30 levels and the day’s first major support level at $31.83 into play before any pullback, Litecoin likely to face plenty of resistance in any run at $30 levels to pin Litecoin back from a breakout from the first major resistance level.

Failure to move through the morning high could see Litecoin pullback through the day’s first major support level at $26.52 to $25 levels to bring the day’s second major support level at $24.44 into play before any recovery, the morning’s new swing lo $27.1 giving the bears full control early on.

Ripple Sees More Red

Ripple’s XRP fell by 8.3% on Saturday, following on from Friday’s 2.88% fall, to end the day at $0.38021.

Tracking the pack, Ripple’s XRP moved to a start of a day intraday high $0.42873, holding above the 23.6% FIB Retracement Level of $0.4164 before easing back, Ripple’s XRP falling through the 23.6% FIB by late morning, ahead of the broad based late in the day sell-off.

Ripple’s XRP tumbled through the day’s first major support level at $0.3975 and second major support level at $0.3803 to an intraday low $0.3687 before steadying, Ripple’s XRP managing to hold well above mid-August’s swing lo $0.24478 in spite of the heavy losses this week.

At the time of writing, Ripple’s XRP was down 11.22% to $0.33756, moves through the early morning seeing Ripple’s XRP slide from a start of a day morning high $0.38213 to a morning low $0.33838, the reversal seeing Ripple’s XRP fall through the day’s first major support level at $0.3564 to call on support at the second major support level at $0.3325.

For the day ahead, a move back through the morning high $0.38213 to $0.39 levels would support a run at $0.40 levels, with a broad based market recovery needed to bring the day’s first major resistance level at $0.4164 into play.

Failure to move back through the morning high would see Ripple’s XRP struggle through the rest of the day, a pullback through the second major support level at $0.3325 bringing sub-$0.30 levels into play before any recovery, Ripple’s XRP seeing its resilience being tested through the weekend.

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