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Bitcoin Cash – Daily Analysis ABC, Litecoin and Ripple – 11/29/18

Cash Bitcoin – ABC Eyes $ 200

The Bitcoin Cash ABC gained 7.8% on Wednesday, after a fall of 0.12% on Tuesday, to close the day at $ 188.87.

Bearish for much of the day, Bitcoin Cash ABC rallied from an early morning intraday low $ 173.25 a day late in the day intraday high $ 196.56.

The moves in the day saw Bitcoin Cash ABC outperforming the first level of main support at $ 186.13 and the FIB retracement level of 23.6% of 192 to deal with the second main resistance level at $ 196.39 before returning to levels below $ 190 by the end of the day.

At the time of writing, Bitcoin Cash ABC was down 3.72% to $ 181.836, with the late Wednesday pullback continued in the early hours, BCH ABC falling from a day's high of $ 189 to a minimum of $ 180.98 before stabilizing, the main support of the day and untested resistance levels at the start.

For the next day, a shift to levels of $ 187 will support another run at $ 190 levels to bring the first highest resistance level of the day to $ 198.57, even if the markets will have to shake off the Wednesday's early afternoon withdrawal to support a rebound later in the day, with levels of $ 200 unlikely to hit later in the day.

Failing to return to the $ 187 levels and kept within the early afternoon, BCH ABC could get a big hit later in the day, a fall in the morning of $ 180.98 bringing under $ 180 levels and the first important support of the day at $ 177.17 at stake, which could make investors tremble once again.

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Litecoin leads the way

Litecoin recovered 11.57% on Wednesday, after gaining 6.05% on Tuesday, to close the day at $ 34.43.

A bullish move in the early hours saw Litecoin recover from a low intraday of $ 30.71 at a rally up to a maximum of $ 36.00 at the end of the day, Litecoin passed the first resistance level at $ 32, 04 and the second resistance level at $ 33.22 to come up against the third highest resistance level at $ 36.31 before a retreat at the end of the day at $ 34 levels.

At the time of writing, Litecoin was down 2.99% to $ 33.4, passing through the early morning seeing Litecoin drop from a high of $ 34.56 to a minimum of $ 33.08 before stabilizing, the main levels of support and resistance of the day have not been tested.

For the next day, a return to the levels of $ 34 would support a possible rebound in the day, while we would expect the first level of main resistance of the day at $ 36.72 not to be tested, apart from the particularly positive news affecting the wires.

Failure to return to the $ 34 levels by early afternoon could see Litecoin take another success later in the day, with a pullback of as low as $ 33.08 bringing the first major support level of the day to $ 31.43 in play before any recovery, plus expected material losses unless the broader market is hit, the downside must be protected after gains on Tuesday and Wednesday.

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Ripple touches $ 0.40

Ripple's XRP gained 7.9% on Wednesday, reversing the 0.76% loss on Tuesday with interest, to close the day at $ 0.39499, the day's gain seen as the Ripple XRP movement in positive territory for the week.

Rising for the first few hours, Ripple's XRP jumped from an intraday start of the day to $ 0.36606 to a maximum of $ 0.389, passing the first resistance level at $ 0.3814 before returning to a limited interval in late morning. An afternoon rally near the end of the day intraday high $ 0.40794 saw Ripple's XRP break the first major resistance level of the day and through the second highest resistance level at $ 0.3966 before falling to $ 0.39 at the end of the day.

At the time of writing, Ripple's XRP was down 2.78% to $ 0.384, a bearish beginning of the day when Ripple's XRP falls from a maximum of $ 0.39845 to a minimum $ 0.38044 before finding the support, the biggest support of the day and the resistance levels left untested.

For the day ahead, a return to levels of $ 0.39 will support an afternoon rebound to bring $ 0.40 levels and the first main resistance level to $ 0.4133 in play before any pullback, any wait at levels of $ 0.40 by the end of the day by signaling a possible near-end that touch the bottom.

The inability to return to $ 0.39 at the start of the early afternoon could see Ripple's XRP going back further into the red, a fall through the $ 0.5044 minimum of the morning bringing into play the first main support level at $ 0.3714 before any recovery, subtype just under $ 0.37 to be tested on the day.

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