Bitcoin Cash – ABC Hammered
The Bitcoin Cash ABC dropped 12.3% on Wednesday, after a 5.97% drop on Tuesday and 7.28% on Monday, to close the day at $ 128.41.
Bearish from the start of the day, Bitcoin Cash ABC dropped from an open intraday high $ 146.42 at the end of the day low intraday and new swing to $ 128.1, reversing seeing the slip of Bitcoin Cash ABC through the first major support level at $ 142.25 and the second highest level of support at $ 137.84 with ease.
Bitcoin Cash ABC was not able to go back through support levels by the end of the day, stuck at $ 130 below the negative sentiment in the broader market.
At the time of publication, Bitcoin Cash ABC was down 2.74% to $ 124.9, a day start rising to $ 129.53 rising well below the first main resistance level at $ 140, 52 before hitting the opposite. The trend reversal meant that Bitcoin Cash ABC would drop to a minimum and a new swing to $ 124.9.
For the day ahead, a return to $ 130 levels would support a run of $ 134.31 to bring the first major resistance level of the day to $ 140.52, even if the negative injury is likely to see Bitcoin Cash ABC at $ 130 low it is in case of recovery.
Failure to return to $ 134.31 could see Bitcoin Cash ABC taking a big hit later in the day, a fall in the first major support level of the day at $ 122.2 bringing in $ 120 levels ahead of any recovery.
The upward trend in BCH SV and the downward trend in BCH ACB reflect the inability of investors to decide on a front runner, bringing the price convergence at stake in the coming weeks, if not days, which will probably end in 1 : 1.
Litecoin returns in $ 20
Litecoin fell 6.54% on Wednesday, after a 0.72% gain on Tuesday, to close the day at $ 28.71, its first sub-$ 30 close out of the 26thth November.
A bearish start to the day saw Litecoin fall to a low of $ 29.6 mid-morning, demanding support for the first major support level of $ 29.52 to return to $ 30 levels by early afternoon.
Finally, the negative sentiment in the broader market weighed, with Litecoin exceeding its first significant level of support at $ 29.52 at an intraday low of $ 28.58, holding just above the second level of main support at $ 28, 33 by the end of the day.
At the time of writing, Litecoin fell 0.42% to $ 28.59, with early morning moves seeing Litecoin return from a day's high of $ 29.41 to a minimum of $ 28, 37 before stabilizing, the main levels of support and resistance not tested at the beginning.
For the day ahead, a return to the morning level and a holding above $ 29.5 would allow a break up to $ 30 levels to bring the first level of resistance higher at $ 30.32, while Litecoin would need the broader market support to make a run at $ 31 levels and the second main resistance level at $ 31.93.
Failure to return to the $ 30 level could see Litecoin take another success today, with a $ 28.37 morning retreat bringing $ 27 levels and the first major day support level to $ 27.84 in play before of any recovery.
Ripple joins the package
Ripple's XRP fell 4.14% on Wednesday, reversing the 1.55% gain on Tuesday with interest, to close the day at $ 0.33953, marking the lowest level since it hit $ 0.32 levels in September.
Bearish during the day, Ripple's XRP fell from an intraday day of $ 0.3558 to a day's day late at $ 0.33792, the Ripple's XRP exceeded the first main support level at $ 0.3404 in the last hours of the day.
At the time of writing, Ripple's XRP was down 0.13% to $ 0.33910, with Ripple's XRP falling from a maximum of $ 0.34298 to a minimum of $ 0.337. before finding support, the main levels of support and resistance of the day not tested.
For the day ahead, a return to the high of the morning at $ 0.3444 would sustain a run of $ 0.35 to bring the first resistance level higher to $ 0.3509 before any withdrawal, a substantial change in sentiment. in the larger market needed for Ripple's XRP to make a run at $ 0.36 levels and the second highest resistance level at $ 0.3623.
Failure to move to $ 0.3444 could see Ripple's XRP claiming a big hit later in the day, a stoppage stop in the low morning of $ 0.337 probably to see Ripple's XRP drop off through the first major support level at $ 0.333 to $ 0.32 levels, bringing the second highest level of support to $ 0.3265 in play before any recovery.
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