Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/11/18

Bitcoin Cash – ABC Sees Red

Bitcoin Cash ABC fell by 4.87% on Thursday, partially reversing Wednesday’s 7.8% gain, to end the day at $178.68.

A mixed start to the day saw Bitcoin Cash ABC recover from a morning low $180.98 to strike a late morning intraday high $190.16, falling well short of the day’s first major resistance level at $198.57 before hitting reverse.

Sliding through the afternoon Bitcoin Cash ABC fell to a late in the day intraday low $172.98, the reversal seeing Bitcoin Cash ABC slide through the first major support level at $177.17 before moving back through to $180 levels.

At the time of writing, Bitcoin Cash ABC was up 1.97% to $182.2, with moves through the early morning seeing Bitcoin Cash ABC move from a start of a day morning low $175.00 to a morning high $187.26 before steadying, the day’s major support and resistance levels left untested.

For the day ahead, a move back through the morning high $187.26 would support another run at the first major resistance level at $188.23 to bring $190 levels back into play for a 3^rd consecutive day, though market sentiment will need to improve to support a breakout from the first major resistance level later in the day.

Failure to move through the morning high could see Bitcoin Cash ABC cough up $180 levels, with a fall through the morning low $175 to $172 levels likely to be as bearish as it will get, which would see Bitcoin Cash ABC steer clear of the day’s first major support level at $171.05, before any recovery.

Litecoin Eases Back

Litecoin fell by 2.7% on Thursday, partially reversing an 11.57% gain on Wednesday, to end the day at $33.5.

A bearish start to the day saw Litecoin fall to a morning low $32.79 before finding support to strike a late morning intraday high $35.4, the moves through the morning leaving the day’s major resistance levels untested.

Tracking the broader market, Litecoin saw red through the 2^nd half of the day, falling to a late in the day intraday low $32.7 before finding support, the day’s low holding well above the first major support level at $31.43.

At the time of writing, Litecoin was up 1.34% to $33.95, with moves through the early morning seeing Litecoin recover from an early morning low $33.02 to strike a morning high $34.15 before easing back, the major support and resistance levels left untested early on.

For the day ahead, a move back through to $34 levels would support another run at $35 levels to bring the day’s first major resistance level at $35.03 into play, while we would expect $36 levels and the second major resistance level at $36.57 to be left untested, a hold onto $35 levels by the close a positive for the day.

A pullback through $33.87 to the morning low $33.02 would signal a possible sell-off to bring the day’s first major support level at $32.33 and $31 levels into play before any recovery, the market still at risk of a reversal with the majors mixed through the early hours.

Ripple Tracks the Pack

Ripple’s XRP fell by 3.1% on Thursday, partially reversing a 7.9% gain on Wednesday, to end the day at $0.38331.

A bearish start to the day saw Ripple’s XRP fall from an intraday high $0.39845 to a morning low $0.37885 before moving back through to $0.39 levels, the day’s high falling short of the first major resistance level at $0.4113.

Sliding to a mid-day intraday low $0.3726, Ripple’s XRP came within range of the first major support level at $0.3714 before recovering to $0.38 levels and a range bound afternoon.

At the time of writing, Ripple’s XRP was down 0.36% to $0.38194, with Ripple’s XRP falling to a morning low $0.37596 before bouncing back to a morning high $0.38575, the early moves leaving the day’s major support and resistance levels untested.

For the day ahead, a move back through the morning high $0.38575 would support another run at $0.39 levels to bring the first major resistance level at $0.397 into play, with the bulls targeting $0.40 levels following Thursday’s pullback, a hold onto $0.385 needed through the morning to support a bullish afternoon.

Failure to hold onto $0.385 levels could see Ripple’s XRP pullback further, with a fall through the morning low $0.37596 bringing the day’s first major support level at $0.3711 and $0.36 levels into play before any recovery.

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