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Bitcoin Cash – ABC – in Recovery
Bitcoin Cash ABC gained 2.49% on Saturday, partially reversing a 3.61% slide from Friday, to end the day at $132.71.
A bullish start to the day saw Bitcoin Cash ABC rally to an early morning intraday high $136.53, breaking through the first major resistance level at $131.09 and second major resistance level at $135.19 before pulling back to $131 levels.
Support through the afternoon limited the downside to leave Bitcoin Cash ABC at $133 levels by the day’s end, a start of a day intraday low $129.48 holding well above the first major support level at $124.85.
At the time of writing, Bitcoin Cash ABC was up 0.95% to $133.97, a relatively range bound start to the day seeing rise from a start of a day morning low $132.38 to a morning high $134 before easing back, the major support and resistance levels left untested early on.
For the day ahead, a hold on to $133 levels through the morning would support another run at the first major resistance level at $136.33 to bring $137 levels into play before any pullback, Saturday’s high $136.53 likely to pin Bitcoin Cash ABC back from any attempted run at the second major resistance level at $139.96 and $140 levels on the day.
Failure to hold on to $133 levels could see Bitcoin Cash ABC slide through the morning low $132.98 to bring sub-$130 levels and the day’s first major support level at $129.48 into play before any recovery, heavier losses not expected on the day.
Litecoin On the Move
Litecoin gained 0.82% on Saturday, partially reversing a 4.45% fall on Friday, to end the day at $32.04.
A start of a day intraday high $32.61 was as bullish as it got, Litecoin falling short of the first major resistance level at $33.52 before easing back to a mid-day intraday low $31.5, the tight ranges through the day also leaving the first major support level at $30.24 untested.
Recovering through the afternoon, Litecoin managed to move back through to $32 levels and positive territory by the day’s end.
At the time of writing, Litecoin was up 2.34% to $32.79, with moves through the early part of the day seeing Litecoin rise from a morning low $31.8 to a morning high $32.88, breaking through the first major resistance level at $32.6, while steering clear of the first major support level at $31.49.
For the day ahead, a hold above the first major resistance level at $32.6 would support a run at $33 levels and the day’s second major resistance level at $33.16, with support from the broader market needed for Litecoin to breakout from current levels.