Daily analysis of Bitcoin Cash, Litecoin and Ripple – 11/9/18


Cash Cash Bitcoin Reverse

Bitcoin Cash fell 6.7% on Thursday, after a 2.04% drop on Wednesday, to end the day at $ 579, a second consecutive day in the red as the Cash Bitcoins lost $ 600 after just two days.

A downtrend of the day saw the Bitcoin Cash sell-off from the start of a $ 625 intraday high at $ 580, Bitcoin Cash falling into the first major support level at $ 603.67 and second tier main support for $ 586.83 before going back to $ 600 for late morning.

A second late sell-off saw Bitcoin Cash fall through the second main support level at an intraday low of $ 574.3 before stabilizing.

At the time of writing, Bitcoin Cash was up only 0.24% to $ 580.4, with Bitcoin Cash reversing from a day's high of $ 586.8 to a morning low of $ 570, 3 before stabilizing, the moves during the morning left the support and resistance levels untested.

For the day ahead, a $ 586.8 high morning move would have sustained a break between $ 590 levels to bring $ 600 levels and the first major resistance level of the day to $ 611.23 in play, a taken on $ 600 levels, in the event of a rally, dependent on sentiment through the broader market throughout the day.

The non-ascent of the morning high at $ 590 could see Bitcoin Cash return later in the day, with a fall during the morning of $ 586.8 likely to see the Bitcoin Cash drop to $ 570 before any recovery, the first major level of support of the day at $ 560.53 unlikely to be tested excluding the negative news affecting the wires.


Litecoin flows again

Litecoin fell 3.29% on Thursday after a 3.69% slide on Wednesday to close the day at $ 52.04.

Bearish all day, Litecoin dropped from a high intraday day start $ 54.45 at the end of the day to low $ 51.9, the reverse saw Litecoin go down through the first major support level at $ 52, 61 before finding support to get back to $ 52 levels by the end of the day.

At the time of writing, Litecoin rose 0.56% to $ 52.33 in what was a relatively limited start to the day, Litecoin rising from a low $ 52 morning to a high $ 52 morning, 53 before slowing down, increased support of the day and resistance levels not tested soon.

For the day ahead, a $ 52.53 to $ 52.8 return move will support a $ 53 level run to bring the first major resistance level of the day to $ 53.69, while we expect Litecoin it does not reach the second highest resistance level at $ 55.35, with $ 54 as good as it will probably pass the day.

The bankruptcy of rising to $ 52.8 in the early afternoon could see Litecoin renouncing its first gains, a rebound for the low $ 52 morning bringing the first major support level of the day to $ 51.14 in play before any recovery.


Ripple takes a shot

Ripple's XRP fell 8.14% on Thursday after a 2.47% fall on Wednesday to close the day at $ 0.49684, marking a first subtitle of $ 0.50 at the day from 4th November.

Coming down from the top of a day intraday high $ 0.5463, Ripple's XRP surpassed the first main support level at $ 0.5277 and the second main support level at $ 0.5145 at a minimum of $ 0.50964 before a 2ND sale in the late afternoon. The second sell-off saw the Ripple slide on XRP at an intraday low of $ 0.4935 before stabilizing, the reversal attributed to false news of a possible partnership between Ripple and Swift.

At the time of writing, Ripple's XRP rose 4.41% to $ 0.51876, with a bullish start to the day when Ripple's XRP rally began with a minimum of $ 0.49616 a a maximum of $ 0.52163, before returning to $ 0.51, the day the main levels of support and resistance were not tested in the beginning.

For the day ahead, a return move of up to $ 0.52163 will hold another run at $ 0.53 levels to bring the first resistance level up to $ 0.5309, while the Ripple's XRP will have to exceed the FIB retracement level of 38.2% of $ 0.5225 on the way, which could provide a challenge in the early part of the day.

Failing to get through the morning high to make a $ 0.53 run, the Ripple XRP sold part of the day's gains, down to $ 0.5122 probably to see the XRP pullback of Ripple to test support levels of $ 0.50 before any recovery.


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