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Bitcoin Cash – ABC – Finds Support
Bitcoin Cash ABC rose by 4.15% on Friday. Partially reversing a 7.79% slide from Thursday, Bitcoin Cash ABC ended the day at $441.62.
A relatively range-bound morning saw Bitcoin Cash ABC fall from a morning high $429.75 to an intraday low $412.25.
Steering well clear of the first major support level at $388.91, Bitcoin Cash ABC rallied to a late intraday high $444.00.
In spite of the afternoon rally, Bitcoin Cash ABC fell short of the first major resistance level at $469.02.
For the month of May, Bitcoin Cash ABC surged by 67.3%.
At the time of writing, Bitcoin Cash ABC was up by 1.11% to $446.53. A positive start to the day saw Bitcoin Cash ABC rise from a morning low $441.89 to a high $446.53.
In spite of the bullish start to the day, Bitcoin Cash ABC fell short of the first major resistance level at $453 early on.
For the day ahead, a hold onto $440 levels through the morning would support a run at the first major resistance level at $453.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to breakout from $445 levels on the day.
In the event of a broad-based crypto rally, the second major resistance level at $464.37 could come into play before any pullback.
Failure to hold onto $440 levels could see Bitcoin Cash ABC struggle through the day. A fall through $432 levels would bring the first major support level at $421.25 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC will likely avoid sub-$420 levels on the day.
Litecoin Bounces Back
Litecoin gained 5.97% on Friday. Reversing a 6.34% fall from Thursday, Litecoin ended the day at $114.47.
A mixed start to the day saw Litecoin fall from a morning high $109.49 to a mid-morning intraday low $104.47.
Steering clear of the first major support level at $99.43, Litecoin rallied through the afternoon to a late intraday high $114.8.
In spite of the afternoon recovery, Litecoin left the first major resistance level at $118.73 untested on the day.
For the month of May, Litecoin gained 55.7%.
At the time of writing, Litecoin was up by 0.61% to $115.17. A mixed start to the day saw Litecoin rise from a morning low $113.31 to a high $116.11 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $116 levels would support a run at the first major resistance level at $118.02.
Support from the broader market would be needed, however, for Litecoin to breakout from $116 levels.
Barring a broad-based crypto rally, Litecoin will likely come up short of $120 levels on the day.