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Bitcoin Cash – ABC – Eases Back
Bitcoin Cash ABC fell by 1.69% on Saturday. Partially reversing Friday’s 13.19% rally, Bitcoin Cash ABC ended the day at $126.09.
A bearish start to the day saw Bitcoin Cash ABC fall from an intraday high $128.26 to a morning low $125.86 before finding support.
Bitcoin Cash ABC recovered to $128 levels by late morning before sliding to a late afternoon intraday low $124.51.
The day’s major support and resistance levels were left untested through the day, with the day’s loss reducing the week’s gain to 7.27%.
At the time of writing, Bitcoin Cash ABC was down by 0.68% to $125.23. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $127.16 to a morning low $125.23. The early moves left the day’s major support and resistance levels untested.
For the day ahead, a move back through $126.3 would support a run at the morning high $127.16. A break through the morning high $127.16 would bring $128 levels and the first major resistance level at $128.06 into play. Barring a broad-based crypto rally, we would expect Bitcoin Cash ABC to be pinned back from more material gains.
Failure to move back through to $126.3 levels could see Bitcoin Cash ABC take a bigger hit through the day. A fall through to Saturday’s low $124.51 would bring the first major support level at $124.31 into play.
While we would expect the second major support level at $122.54 to be left untested, a visit to $123 levels could be on the cards in the event of a sell-off.
Litecoin Leads the Way Again
Litecoin rose by 3.88% on Saturday. Following on from a 29.56% surge on Friday, Litecoin ended the day at $44.2.
A bullish morning saw Litecoin rise from an early morning intraday low $41.79 to a late morning intraday high $46.01 before easing back.
In the 2nd half of the day, a late afternoon intraday low $41.75 was as bearish as it got, with Litecoin falling into the red before bouncing back to $44 levels by the day’s end.
In spite of a relatively choppy day, the major support and resistance levels were left untested. The day’s gain took Litecoin to a 34.4% rise for the current week, Monday through Saturday.
At the time of writing, Litecoin was down by 2.04% at $43.3. Litecoin fell from the start of a day morning high $44.35 to a morning low $43.3. The day’s major support and resistance levels were left untested early on.
For the day ahead, a move back through to $44 levels would signal the start of another Litecoin rally. Support from the broader market would be needed, however, for Litecoin to take a run at Saturday’s high $46.01 and the day’s first major resistance level at $46.22.