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Bitcoin Cash Hits High
Bitcoin Cash rallied 16.23% on Saturday, following Friday’s 0.24% consolidation, to end the day at $1,763.2.
It was full steam ahead from the get go, the day’s $1,510 low coming at the start of the day, holding well above the first major support level of $1,462.57 and 23.6% FIB Retracement Level of $1,347.5.
Through the day’s first major resistance level at $1,557.87 within the first few hours, Bitcoin Cash broke through the second resistance level at $1,600.83 and third major resistance level at $1,696.13 with ease to hit a new swing hi $1,765, with a hold above the day’s third major resistance level by the day’s end a strong bullish signal for the week ahead.
At the time of writing, Bitcoin Cash was up 1.81 to $1,797.0, as the march towards $2,000 continues ahead of the hard fork.
A morning high $1,849.9 came within the first few hours, with Bitcoin Cash testing the day’s first major resistance level of $1,848.8 early on in the day before a pullback to current levels, the day’s $1,754.3 low coming at the start of the day.
For the day ahead, the bulls will have $2,000 in mind and the way things are going, there’s no reason for a pullback later in the day, few likely to be locking in profits with more than a week to go before the much talked about hard fork.
A pullback to sub-$1,700 levels could see some money come off the table, bringing the day’s first major support level at $1,593.8 into play, though with a positive start, the path of least resistance is likely to be onwards and upwards today.
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Litecoin hits $180
Litecoin gained 5.38% on Saturday, following Friday’s 4.47% rise, to end the day at $177.3.
It was the 4th consecutive day of gains, with Litecoin beginning to garner some attention, having had a slow start to the week.
After a range bound start to the day, an afternoon rally saw Litecoin break through the day’s first major resistance level at $173.92 and second major resistance level at $179.65 with ease to hit a new swing hi $182.35 before easing back to $170 levels by the close.
Holding above the day’s first major resistance level supported a bullish start to today, with the day’s major support levels left untested on Saturday.
At the time of writing, Litecoin was up 0.55% to $178.7, with a morning high $181.95 coming within the first hour of the day before easing back, with the day’s first major resistance level at $184.09 left untested.
With Litecoin having a range bound start to the day, a morning low $177 leaving the day’s first major support level at $168.77 untested, it looks set up for another bullish day ahead, with a move back through to the day’s high $181.95 supporting a run at the day’s first major resistance level at $184.09, with $190 levels in play should Bitcoin Cash continue on its climb towards $2,000 and Bitcoin break through $10,000.