Bitcoin Cash – ABC / SV, Litecoin and Ripple Daily Analysis – 17/11/18

Bitcoin Cash

BCH ABC and BCH SV continued to see choppy waters on Friday.

For Bitcoin Cash ABC, it was a particularly bearish Friday, sliding by 15.89% to end the day at $256.25, the only positive being a recovery from a late intraday low $243.88, though this may provide little comfort to the broader cryptomarket, with Bitcoin Cash SV continue to claw its way back in the battle of the coins.

For Bitcoin Cash SV, BCH ABC’s loss was Bitcoin Cash SV’s gain, with Bitcoin Cash SV rallying 15.41% to end the day at $102.76, Bitcoin Cash SV recovering from a late morning intraday low $71.5 to strike an intraday high $118.9 before easing back.

At the time of writing, Bitcoin Cash SV continued to find support, with Bitcoin Cash SV up 21.78% to $125.14, the upward trend continuing from Friday morning and in spite of Bitcoin Cash ABC having a longer chain, stemming from significantly greater support from miners, Bitcoin Cash ABC miners having mined the last 14 blocks.

Bitcoin Cash ABC was down 7.07% to $238.13 at the time of writing, with an early move to a morning high $259.84 hitting reverse, investors torn between the 2, while miners continue to stand alongside Bitcoin Cash ABC, in the early days at least.

Litecoin Sees Red Again

Litecoin fell by 3.83% on Friday, reversing Thursday’s 1.47% gain with interest, to end the day at $41.73, the reversal leaving Litecoin down 17.85% for the week, Monday through Friday.

Bearish through the day, Litecoin fell from a start of a day intraday high $43.61 to a late in the day intraday low $41.25 before steadying, the moves through the day leaving the major support and resistance levels untested, as the markets responded to a slide in Bitcoin Cash ABC through the day.

At the time of writing, Litecoin was down 1.27% to $41.2, with the bloodbath spilling into the weekend, Litecoin falling from a start of a day morning high $41.75 to an early morning low $41.15 before steadying, the day’s major support and resistance levels left untested early on.

For the day ahead, a hold on to $41 levels through the morning could see Litecoin find support later in the day, with a move back through the morning high $41.75 to $42 levels needed to bring the day’s first major resistance level at $43.14 into play, though sentiment could ultimately pin Litecoin back to $42 levels at best.

Failure to hold on to $41 levels could see Litecoin fall deeper into the red, with the day’s first major support level at $40.78 unlikely to be enough in the event of another sell-off, sub-$40 support levels back in play through the day.

Ripple Hits Reverse

Ripple’s XRP fell by 2.35% on Friday, also reversing Thursday’s relief rally with interest, to end the day at $0.47806, the pullback leaving Ripple’s XRP down 6.24% for the current week, Monday through Friday.

A bearish first half of the day saw Ripple’s XRP fall from a start of a day intraday high $0.495 to a late morning intraday low $0.465 before moving back through to $0.47 levels and a relatively range bound 2^nd half of a day, the major support and resistance levels left untested on the day, with Ripple’s XRP continuing to fall short of the 38.2% FIB Retracement Level of $0.4225.

At the time of writing, Ripple’s XRP was down 1.2% to $0.47232, a bearish start to the day seeing Ripple’s XRP fall from a day morning high $0.4784 to a morning low $0.46994 before steadying, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through the morning high to $0.48 levels by the early afternoon would bring $0.49 levels and the day’s first major resistance level at $0.4937 into play before any reversal, $0.50 levels unlikely to be reached barring a material shift in sentiment across the broader market.

Failure to move back through to $0.48 levels could see Ripple’s XRP take a bigger hit later in the day, with a pullback through the morning low $0.46994 bringing the first major support level at $0.4637 and $0.45 levels into play before any recovery, sub-$0.45 support levels unlikely to be tested barring materially negative news hitting the wires.

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