In This Article:
Bitcoin Cash – ABC – Down Again
Bitcoin Cash ABC slipped by 2.16% on Saturday. Following on from a 7.77% slide on Friday, Bitcoin Cash ABC ended the day at $359.98.
Range-bound through the day, Bitcoin Cash ABC slipped from a start of a day intraday high $374.97 to a late morning intraday low $352.47.
Moving within relatively tight ranges through the day, Bitcoin Cash ABC steered clear of the major support and resistance levels on the day.
Tracking the broader market through the afternoon, Bitcoin Cash ABC found support to reduce the losses from earlier in the day.
At the time of writing, Bitcoin Cash ABC was up by 2.63% to $368.42. A relatively bullish start to the day saw Bitcoin Cash ABC rise from a morning low $361.3 to a high $373.93.
Steering clear of the major support levels, Bitcoin Cash ABC broke through the 23.6% FIB of $371 and first major resistance level at $371.81 early on.
For the day ahead, a hold above the 23.6% FIB would support a move through Saturday’s high $374.97 to bring $380 levels into play.
Bitcoin Cash ABC would need support from the broader market, however, to break out from $380. A break out would bring the first major resistance level at $384.64 into play.
Failure to hold above the 23.6% FIB of $371, Bitcoin Cash ABC could hit reverse through the day. A pullback through $362 levels would bring sub-$360 levels into play before any recovery.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC would likely steer clear of sub-$350 and the first major support level at $349.31.
Litecoin Struggles at $90
Litecoin declined by 3.59% on Saturday. Following on from a 6.08% slide on Friday, Litecoin ended the day at $86.65.
A bearish morning saw Litecoin fall from an intraday high $90.61 to a late morning intraday low $85.20.
Litecoin left the major support and resistance levels untested through a relatively range-bound day, by recent standards.
Support through the afternoon led to a move back through to $88 levels. The negative sentiment ultimately weighed, pinning Litecoin back to $86 levels by the day end.
At the time of writing, Litecoin was up by 3.38% to $89.58. A particularly bullish start to the day saw Litecoin rally from a morning low $86.24 to a high $90.00.
The early rally saw Litecoin break through the first major resistance level at $89.77.
For the day ahead, a hold above $87 levels would support another run at $90 levels on the day.
Support from the broader market would be needed for Litecoin to take a run at the second major resistance level at $92.90.
In the event of a broad-based crypto rally, Litecoin could break out from $92 levels to bring $95 levels into play before any pullback.