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Bitcoin Cash – ABC – Takes a Hit
Bitcoin Cash ABC tumbled by 4.67% on Friday. Following on from a 3.79% slide on Thursday, Bitcoin Cash ABC ended the day at $277.11.
A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $294 before hitting reverse.
Falling well short of the first major resistance level at $304.32, Bitcoin Cash ABC slid to an early afternoon intraday low $270.
Bitcoin Cash ABC fell through the first major support level at $284.61 and the second major support level at $275.62. Of greater significance was a fall through the 23.6% FIB of $273.
Finding support late on, Bitcoin Cash ABC recovered to $281 levels before ending the day at sub-$280.
At the time of writing, Bitcoin Cash ABC was up by 0.8% to $279.34. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $275.86 before striking a high $279.34.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $280.50 levels would support a run at the first major resistance level at $290.74.
Support from the broader market would be needed, however for Bitcoin Cash ABC to break back through to $290 levels.
Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely fall short of Friday’s high $294.
Failure to move through to $290 levels could see Bitcoin Cash ABC hit reverse.
A fall through the 23.6% FIB of $273 would bring sub-$270 levels into play before any recovery.
Barring another crypto sell-off, Bitcoin Cash ABC should steer clear of the first major support level at $266.74.
Litecoin recovers to $60 Levels
Litecoin fell by 1.58% on Friday. Following on from a 4.33% slide on Thursday, Litecoin ended the day at $60.4.
A bullish start to the day saw Litecoin rise to an early morning intraday high $62.43 before hitting reverse.
Falling short of the first major resistance level at $63.74, Litecoin slid to an early afternoon intraday low $58.68.
Litecoin fell through the first major support level at $59.58 before finding support from the broader market.
Through the latter part of the day, Litecoin managed to move back through to $60 levels to limit the loss on the day.
At the time of writing, Litecoin was up by 1.09% to $61.06. A bullish start to the day saw Litecoin rally from an early morning low $60.10 to a high $61.42.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would bring the first major resistance level at $62.33 into play.
Support from the broader market would be needed, however, for Litecoin to break through to $62 levels.