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Bitcoin Cash – ABC – Hits $300
Bitcoin Cash ABC rallied by 7.64% on Friday. Reversing a 1.04% fall from Thursday, Bitcoin Cash ABC ended the day at $286.91.
In the early hours, Bitcoin Cash ABC rose from an intraday low $265.54 to an early morning high $270.83 before easing back.
Bitcoin Cash ABC left the major support and resistance levels untested ahead of a late morning rally.
The late morning rally saw Bitcoin Cash ABC strike an intraday high $307 before easing back to sub-$290 levels. Bitcoin Cash ABC broke through the major resistance levels and 23.6% FIB Retracement Level of $291 before pullback back through the 23.6% FIB and third major resistance level at $295.35.
At the time of writing, Bitcoin Cash ABC up 4.34% to $299.35. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $292.78 to a high $302.82 before easing back.
The early rally saw Bitcoin Cash ABC break through the 23.6% FIB of $291, whilst coming up short of the major resistance levels.
For the day ahead, a move back through to $300 levels would support another run at the first major resistance level at $307.43. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from the morning high $302.82.
Barring another broad-based crypto rally, Bitcoin Cash ABC would likely come up short $310 levels on the day. Failure to move back through to $300 levels could see Bitcoin Cash ABC give up the morning gains. A slide back through to $286 levels would bring $270 levels into play before any recovery.
Barring a crypto meltdown, however, Bitcoin Cash ABC, Bitcoin Cash ABC would likely steer clear of sub-$280 on the day.
Litecoin Hits $80
Litecoin jumped by 7.65% on Friday. Following a 0.48% fall on Thursday, Litecoin ended the day at $77.72.
Tracking the broader market, Litecoin rallied from a start of a day intraday low $71.94 to a late morning intraday high $79.87.
The late morning rally saw Litecoin break through the major resistance levels and hold above the third major resistance level at $76.39 throughout the day.
At the time of writing, Litecoin was up by 2.97% to $80.03. A bullish start to the day saw Litecoin rally from a morning low $77.61 to a high $80.75 before easing back.
In spite of the early rally, Litecoin left the day’s major support and resistance levels untested.
For the day ahead, a hold above $78 levels through the morning would support a run at the first major resistance level at $81.08.
Litecoin would need support from the broader market, however, to break out from $80 levels on the day. In the event of another crypto rally, a rally from the first major resistance level would bring the 38.2% FIB of $83 into play later in the day.