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Bitcoin Cash – ABC – Sees Red
Bitcoin Cash ABC fell by 2.56% on Friday. Reversing a 0.45% gain from Thursday, Bitcoin Cash ABC ended the day at $315.79.
Bearish through the day, Bitcoin Cash ABC fell from an early morning intraday high $324.41 to a late intraday low $309.51.
Coming up short of the first major resistance level at $329.65, Bitcoin Cash ABC fell through the first major support level at $311.20.
Finding support from the broader market late in the day, Bitcoin Cash ABC managed to break back through the first major support level.
At the time of writing, Bitcoin Cash ABC was down by 0.28% from an end of Friday $315.79 to $314.89.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, Bitcoin Cash ABC would need to move through to $316.60 levels to take a run at the first major resistance level at $323.63.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to break back through to $320 levels.
Barring a broad-based crypto rally, Friday’s high $324.41 and first major resistance level would likely cap any upside.
Failure to move through to $316.60 levels could see Bitcoin Cash ABC take another hit on the day. A fall through Friday’s low $309.51 would bring the first major support level at $308.73 into play.
Barring a crypto meltdown, we would expect Bitcoin Cash ABC to continue to steer clear of sub-$300. In the event of an extended sell-off, the second major support level at $301.67 would likely limit any downside.
Litecoin sees more Red
Litecoin slid by 2.25% on Friday. Following on from a 1.23% fall on Thursday, Litecoin ended the day at $75.10.
A bullish start to the day saw Litecoin rise to an early morning intraday high $77.2 before hitting reverse.
Falling short of the first major resistance level at $78.87, Litecoin slid to a late afternoon intraday low $72.91.
The reversal saw Litecoin fall through the first major support level at $73.67. Finding late support from the broader market, Litecoin broke back through the first major support level.
At the time of writing, Litecoin was down by 0.24% to $74.92. A mixed start to the day saw Litecoin fall from an early morning high $75.20 to a low $74.60 before finding support.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, Litecoin would need to move back through to $75 levels to support a bullish day ahead.
A move through to $76 levels would bring the first major resistance level at $77.23 into play.
Litecoin would need the support of the broader market, however, to break through to $77 levels.