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

Bitcoin Cash Finds Support

Bitcoin Cash gained 2.27% on Saturday, partially reversing a 5.71% slide, to end the day at $558.6, with the day’s gain reducing the current week’s deficit to 2.34%.

In a relative range bound morning, Bitcoin Cash eased to a late morning intraday low $534.2, holding above the first major support level at $513.93 before a late morning recovery to $550 levels. Bitcoin Cash’s move back into positive territory and a late afternoon intraday high $567.9, fell short of the first major resistance level at $591.13 before easing back to $550 levels by the day’s end.

At the time of writing, Bitcoin Cash was down 2.26% to $546, with moves through the early part of the morning seeing Bitcoin Cash fall from a start of a day morning high $558.4 to a morning low $541.6 before steadying, the day’s major support and resistance levels left untested early on.

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For the day ahead, a move back through to $554 and the morning high would support a run at the day’s first major resistance level at $572.93 before any pullback, the second major resistance level at $587.27 unlikely to be in play on the day, as 15th November hard fork looms, pinning back any major rallies.

Failure to move back through $554 by the early afternoon could see Bitcoin Cash fall through the morning low $541.6 to test the day’s first major support level at $539.23, with any heavier losses dependent upon the news wires through the day, any more rhetoric between the two sides of the BCH hard fork camp likely to bring the second major support level at $519.87 into play.

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Litecoin Steadies

Litecoin gained 0.41% on Saturday, partially reversing Friday’s 0.75% fall, to end the day at $51.86, the day’s gain reducing the week’s deficit to 3.75%.

A particularly range bound start to the day saw Litecoin fall to an early morning intraday low $51.45 before finding support, the day’s low holding well above the first major support level at $50.98.

Upward momentum through the late morning and afternoon saw Litecoin move to an intraday high $52.23 before easing back in the final hours, the day’s high coming up short of the first major resistance level at $52.44.

At the time of writing, Litecoin was down 0.69% to $51.5, with moves in the early hours seeing Litecoin fall from a start of a day morning high $51.99 to a morning low $51.32 before steadying, the early pullback calling on support at the first major support level at $51.46.

For the day ahead, a move back through $51.85 would support another run at $52 levels and the day’s first major resistance level at $52.24, with any rebound in Bitcoin Cash through the day supportive of a run at the second major resistance level at $52.63, while we would expect $53 levels to remain out of reach.

Failure to move back through $51.85 could see Litecoin pullback through the first major support level and the morning low $51.32 to call on support at the second major support level at $51.07 before any recovery, sub-$51 support levels unlikely to be in play.

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Ripple Bucks Up Again

Ripple’s XRP gained 0.99% on Saturday, following on from a 1.41% rise on Sunday, to end the day at $0.5095, the day’s rise extending the week’s gain to 8.39%.

A relatively range bound morning saw Ripple’s XRP pullback to late morning intraday low $0.50316 before making a move, the day’s low holding above the first major support level at $0.4930.

Tracking the broader market, Ripple’s XRP moved through to a late afternoon intraday high $0.51776, coming within range of the first major resistance level at $0.5188 before easing back to $0.50 levels by the day’s end.

At the time of writing, Ripple’s XRP was down 0.36% to $0.50769, with Ripple’s XRP pulling back from an early morning high $0.5121 to a morning low $0.506 before steadying, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through to $0.51 levels would support a run at the first major resistance level at $0.5171, with any run at $0.52 levels dependent upon sentiment across the broader market, though with Ripple’s XRP having seen some decent gains through the week, there may well be a limit any upside in any rebound later in the day.

Failure to move back through to $0.51 levels could see Ripple’s XRP pullback through the morning low $0.506 to test the day’s first major support level at $0.5025 before any recovery, sub-$0.50 support levels unlikely to be tested barring a material sell-off across the broader market that would weigh more heavily on Ripple’s XRP.

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This article was originally posted on FX Empire

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