Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/11/19

It’s a mixed start to the day, with Bitcoin Cash ABC bucking the trend. Failure to move through to key levels could see the majors hit reverse, however.

Bitcoin Cash – ABC – Bucks the Trend Early

Bitcoin Cash ABC rose by 1.49% on Friday. Partially reversing a 2.28% decline from Thursday, Bitcoin Cash ABC ended the day at $223.43.

A bullish start to the day saw Bitcoin Cash ABC rise from an early morning intraday low $220.16 to a mid-morning high $225.60.

Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $220.79.

Coming up against the second major resistance level at $225.17, Bitcoin Cash ABC fell back to $221 levels before an afternoon recovery.

In the recovery, Bitcoin Cash ABC rallied to a mid-afternoon intraday high $226.44.

Bitcoin Cash ABC broke back through the second major resistance level at$225.17 before easing back to $223 levels.

At the time of writing, Bitcoin Cash ABC was up by 0.34% to $224.19. Bitcoin Cash ABC rose from an end of Sunday $223.43 to an early morning high $224.19.

The major support and resistance levels were left untested early on.

For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$224 levels to support a run at the first major resistance level at $226.53.

Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $225 levels.

Barring a broad-based crypto rally, Friday’s high $226.44 and first major resistance level would likely limit any upside.

Failure to steer clear of sub-$224 levels could see Bitcoin Cash ABC see red for a 2nd time this week.

A fall through to $223.30 levels would bring the first major support level at $220.25 into play.

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

Litecoin Struggles at $48

Litecoin rallied by 3.88% on Friday. Reversing a 1.86% fall from Thursday, Litecoin ended the day at $48.68.

A bullish start to the day saw Litecoin rally from an early morning intraday low $46.84 to an early afternoon intraday high $49.36.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $47.93 and second major resistance level at $48.96.

Through the late afternoon, Litecoin slipped back to $48 levels before an early evening return to $49.3 levels.

Resistance at $49 weighed, however, with Litecoin sliding back through the second major resistance level at $48.96.

At the time of writing, Litecoin was down by 0.82% to $48.28. A mixed start to the day saw Litecoin rise to an early morning high $48.83 before falling to a low $47.93.

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

For the day ahead, a move through to $49 levels would bring the first major resistance level at $49.75 into play.

Litecoin would need the support of the broader market, however, to break out from Friday’s high $49.36.

Barring a broad-based crypto rally on the day, resistance at $49 would likely limit any upside on the day.

In the event of a market rebound, Litecoin could visit $50 levels for the 1st time since 22nd November…

Failure to move through to $49 levels could see Litecoin slide deeper into the red.

A fall through the morning low $47.93 would bring the first major support level at $47.23 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$47 support levels on the day.

Ripple’s XRP Holds onto $23

Ripple’s XRP rallied by 3.23% on Friday. Reversing a 0.43% fall from Thursday, Ripple’s XRP ended the day at $0.23150.

A bullish start to the day saw Ripple’s XRP rally from an early intraday low $0.22365 to a mid-afternoon intraday high $0.23400.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2286. Coming up against the second major resistance level at $0.2332, Ripple’s XRP fell back to sub-$0.23 levels in the late afternoon.

Late in the day, Ripple’s XRP found support to close out the day at $0.23 levels.

At the time of writing, Ripple’s XRP was down by 0.54% to $0.23026. A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.23349 before sliding to a low $0.23022.

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

For the day ahead, a hold onto $0.23 levels would support a run at the first major resistance level at $0.2358.

Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.23349.

Barring a broad-based crypto rally, Friday’s high $0.2340 and first major resistance level at $0.2358 would likely limit any upside.

Failure to hold onto $0.23 levels would bring the first major support level at $0.2254 into play before any recovery.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2194.

Bob Mason

Nov 30, 2019 05:14 AM GMT