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Bitcoin Cash – ABC – Slumps again…
Bitcoin Cash ABC slumped by 25% on Tuesday. Following on from a 3.84% decline on Monday, Bitcoin Cash ABC ended the day at $219.
A mixed start to the day saw Bitcoin Cash ABC rise to a mid-morning intraday high $292.22 before hitting reverse.
Falling well short of the first major resistance level at $303.35, Bitcoin Cash ABC slid to a late intraday low $210.18.
The sell-off saw Bitcoin Cash ABC fall through the major support levels and, more significantly, the 62% FIB of $262. The slide affirmed a near-term bearish trend, formed at June’s swing hi $516.
Support late on was of little respite as the broad-based crypto reversal continued for a 5th consecutive day.
At the time of writing, Bitcoin Cash ABC was up by 3.73% to $227.17. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $222.75 to a high $228.62.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $230 levels would support a $240 levels later in the day.
Bitcoin Cash ABC would need the continued support of the broader market, however, to break out from $230 levels.
Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall well short of the first major resistance level at $270.75.
Failure to move through to $230 levels could see Bitcoin Cash ABC see red for a 6th consecutive day.
A pullback through to sub-$220 would bring Tuesday’s low $210 into play before any recovery.
Barring another crypto meltdown, however, Bitcoin Cash ABC should steer clear of the first major support level at $188.71.
Litecoin Back at sub-$60
Litecoin tumbled by 16.5% on Tuesday. Following on from an 8% slide on Monday, Litecoin ended the day at $55.5.
Relatively range-bound through the morning, Litecoin rose from a morning low $65.8 to an early morning intraday high $67.37.
Falling well short of the first major resistance level at $73.14, Litecoin eased back to $66 levels ahead of an afternoon sell-off.
The afternoon sell-off saw Litecoin fall to a late intraday low and new swing lo $55.2 before finding support.
Litecoin fell through the first major support level at $60.77 to visit sub-$60 for the 1st time since April. Finding support at the second major support level at $55.08 was of little consolation.
At the time of writing, Litecoin was up by 2.47% to $56.87. Tracking the broader market, Litecoin rose from an early morning low $55.26 to a high $57.0.
Litecoin left the major support and resistance levels untested early on.