Analysis of Bitcoin Cash, Litecoin and Ripple Daily – 11/08/18

Bitcoin Cash falls again

Bitcoin Cash slipped 6.33% on Friday, more than reversing the 3.31% gain on Thursday, to close the day at $ 569.9, with 4 losses in 5 leaving Bitcoin Cash down 19.7% for the week [19659003] Thursday's withdrawal race continued on Friday, with Bitcoin Cash declining for most of the day, while it has diverged from the main support levels, before a sell-off at the end of the day saw Bitcoin Cash slip through the first major support level of $ 583.73 at an intraday low of $ 555, testing the day's second major support level at $ 558.87.

A partial late recovery was of little comfort, with Bitcoin Cash striking a new swing lo, without leaving the main resistance levels of the day tested [19659003] At the time of publication, Bitcoin Cash was down 2 , 51% to $ 555.8, with Bitcoin's money falling from an early morning start of $ 571.1 to a morning low and a new swing of $ 555 before stabilizing, the continuation of Friday's sell-off test more resilient crypto-investor.

For the day ahead, a move of up to $ 579 would sustain a run at $ 600 levels to bring the first major resistance level into play at $ 602.93, though for Bitcoin Cash to recover losses in the morning, holding back at $ 550 levels will be crucial.

Failure to recover from the first losses during the morning could see Bitcoin Cash catch another crash later in the day, with a fall down to levels below $ 550 bringing the first major level of support into play of the day for $ 545.93.

How low the value of Bitcoin Cash will depend on the broader market, although we would expect Bitcoin to move away from the second highest level of support to $ 521.97.

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Litecoin hits $ 50

Litecoin has dropped by 6.25% on Friday, reversing Thursday's gains on Thursday. 1.48% with interest, to close the day at $ 59.14. Four days in red over five left Litecoin down 20.8% for the week and $ 60 for the first time since last November.

Following the broader market, Litecoin moved in the opposite direction for most of the day, while managing to avoid levels below $ 60 and the first major support level of the day until a sell-off in delay saw Litecoin slip into the first level of support greater than $ 60.59 for an intraday low and a new swing for $ 58.3

A start of the day $ 63.36 exceeded the first main resistance level at $ 65.48, with the bearish trend firmly intact.

At that time Litecoin dropped 2.72% to $ 57.53, Litecoin sold its first major support level of $ 57.04 a morning low and a new swing at $ 56.5.

For the day ahead, a return to a high morning $ 59.19 would sustain a run of up to $ 60 levels to bring the first level of resistance greater than $ 62.3 into play, although Litecoin will face much resistance at $ 60, with $ 62 that will probably be a step too long.

Failure to come back in the early morning could see Litecoin Withdrawing through the first major support level of $ 57.04 to bring the second highest level of support to play at $ 54.94, the bears now look at levels below $ 50.

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Ripple Back Eyeing sub- $ 0.30

Ripple's XRP fell 7, 22% Friday, more than reversing the 3.95% gain on Thursday, to close the day at $ 0.31922, with heavy losses during the week leaving the Ripple XRP down $ 26.6% end on Friday.

A relatively small morning saw Ripple's XRP move away from the first major support level of the day to $ 0.3278, with a late-afternoon market sell-off due to the damage, the Ripple XRP slipping through the first main support level at $ 0.3278 and second main support level at $ 0.3115 at an intraday low and at a new swap of $ 0.31072.

The moves over the course of the day reiterated the extended bearish trend at the end of the April swing $ 0.97181, with the croups facing aft test at the end of the summer.

At the time of writing, Ripple's XRP had dropped 4.22% to $ 0.30479, with Ripple's XRP slipping to its morning low and the new swing to $ 0.30059. , calling support at the first major support level at $ 0.3040.

For the day ahead, a shift to levels of $ 0.32 will support a run at the first major support level at $ 0.3413, although we can expect Ripple's XRP to be very resistant to $ 0.32 and on any run at $ 0.33 levels.

Failure to recover from the morning losses at $ 0.32 could see Ripple's XRP collect even greater success throughout the day, with levels below $ 0.30 now firmly at stake, though there we expect Ripple's XRP to avoid the second highest level of support at $ 0.2887.

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