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Bitcoin Cash – ABC – on the Move
Bitcoin Cash ABC tumbled by 10.4% on Sunday. Reversing a 2.19% gain from Saturday, Bitcoin Cash ABC ended the week down 15.7% at $396.33. The sell-off left Bitcoin Cash ABC down by 10.5% for the month of June.
A choppy morning saw Bitcoin Cash ABC rise to an early intraday high $446.9 before hitting reverse.
Falling short of the first major resistance level at $449.99, Bitcoin Cash ABC slid to a late afternoon low $396.36 before finding support.
The reversal saw Bitcoin Cash ABC fall through the first major support level at $421.59 and second major support level at $402.91.
Of greater significance was the fall through the 23.6% FIB of $418.
A late recovery to $416 levels was short-lived. Bitcoin Cash ABC slid back through the second major support level to an intraday low $396.33.
At the time of writing, Bitcoin Cash ABC was up by 3.41% to $409.85. A bullish start to the day saw Bitcoin Cash ABC rises from a morning low $396.0 to a high $410.11 before easing back.
Bitcoin Cash ABC left the major support and resistance levels untested early on, while also falling short of the 23.6% FIB of $418.
For the day ahead, a move through the 23.6% FIB would bring the first major resistance level at $430.04 into play.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from $418 levels.
Failure to move through the 23.6% FIB could see Bitcoin Cash ABC hit reverse later in the day. A fall through the morning low $396 would bring the first major support level at $379.47 into play.
Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$370 support levels on the day.
Litecoin Steadies
Litecoin fell by 8.4% on Sunday. Partially reversing an 11.58% rally from Saturday, Litecoin ended the week down 10.7% at $122.06. The reversal left Litecoin with just a 6.7% gain for the month of June.
A mixed start to the day saw Litecoin recover from a morning low $126.0 to strike a late morning intraday high $136.81.
Falling short of the first major resistance level at $141.47, Litecoin tumbled to a late intraday low $119.03.
Finding support at the first major support level at $119.97, Litecoin recovered to $122 levels at the day end.
At the time of writing, Litecoin was up by 1.61% to $124.02. Tracking the broader market, Litecoin rose from a morning low $120.52 to a high $125.56 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move through the morning high to $126 levels would support a run at $130 levels on the day.