In This Article:
Bitcoin Cash – ABC – Struggles to Break Free
Bitcoin Cash ABC gained 0.43% on Friday. Following on from a 5.34% rally on Thursday. Reversing most of a 6.82% slide from Wednesday, Bitcoin Cash ABC ended the day at $408.8.
Another bearish start to the day saw Bitcoin Cash ABC fall to a late morning intraday low $395 before finding support.
Steering well clear of the first major support level at $381.84, Bitcoin Cash ABC rallied to an early afternoon intraday high $423.61.
Bitcoin Cash ABC broke through the first major resistance level at $420.27 before easing back to sub-$410 levels.
At the time of writing, Bitcoin Cash ABC was up by 0.96% to $412.73. A relatively bullish start to the day saw Bitcoin Cash ABC rise from a morning low $407.23 to a high $414.46.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, avoiding sub-$410 levels would support a run at the first major resistance level at $423.27.
Bitcoin Cash ABC would need support from the broader market, however, to break out from the morning high $414.46.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $423.61 will likely cap the upside on the day.
A fall to sub-$410 levels would bring the first major support level at $394.66 into play before any recovery.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC will likely steer clear of sub-$390 levels on the day.
In the event of a sell-off, the second major support level at $380.53 could come into play before any recovery.
Litecoin Eyeing Breaks Away from the Pack
Litecoin surged by 12.93% on Friday. Following on from a 1.48% gain on Thursday, Litecoin ended the day at $100.5.
After a relatively range-bound start to the day, Litecoin rallied from an intraday low $88.21 to a late afternoon intraday high $103.9.
Steering well clear of the first major support level at $85.84, Litecoin broke through the major resistance levels on the day.
It was Litecoin’s first hold onto $100 levels at the day end since 15th May. Litecoin was also able to hold above the third major resistance level at $98.10.
At the time of writing, Litecoin was up by 0.92% to $101.42. A mixed start to the day saw Litecoin fall to a morning low $98.8 before hitting a morning high $101.55.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a hold onto $100 levels through the morning would support a run at the first major resistance level at $106.86.
Following Friday’s rally, Litecoin would need support from the broader market to breakout from a current year high $107.6 struck on 16th May.