In This Article:
Bitcoin Cash ABC slid by another 5.96%, following Monday’s 7.28% fall, to end the day at $146.66, the reversal bucking the trend seen across the broader market.
A particularly bearish start to the day saw Bitcoin Cash ABC slide to morning low $146, the sell-off seeing Bitcoin Cash ABC fall through the first major support level at $151.05 before bouncing back to $155 levels.
The recovery was short lived however, with Bitcoin Cash ABC sliding back through the rest of the day to a late in the day intraday low $145.35, holding just above the second major support level at $144.73 at the day’s end.
At the time of writing, Bitcoin Cash ABC was down 4.47% to $140.11, with another bearish start to the day seeing Bitcoin Cash ABC slide from a morning high $146.42 to a morning low $139.99 before recovering to $140 levels. The reversal saw Bitcoin Cash ABC fall through the first major support level at $142.25.
For the day ahead, a move back through the first major support level at $142.25 would support a run at the morning high $146.42 to bring $150 levels into play before any pullback, the day’s first major resistance level at $154.17 unlikely to be tested on the day, though market sentiment will need to materially improve for a rebound.
Failure to move back through the first major support level at $142.25 could see Bitcoin Cash ABC take a bigger hit later in the day, with a pullback through the morning low $139.99 bringing the day’s second major support level at $137.84 into play before any recovery.
Litecoin Finds Support at Sub-$30
Litecoin gained just 0.72% on Tuesday, following Monday’s 8.52% tumble, to end the day at $30.71.
Tracking the broader market, Litecoin fell to an early morning intraday low $29.5 before bouncing back to $31 levels mid-morning, the day’s low holding above the first major support level at $28.89.
Another afternoon sell-off saw Litecoin fall back to $30 levels before steadying late in the day, an early afternoon intraday high $31.86 coming up well short of the first major resistance level at $32.78.
At the time of writing, Litecoin was down 2.08% to $30.07, with Litecoin falling from a start of a day morning high $31.06 to a morning low $30.00, moves through the early morning leaving the day’s major support and resistance levels untested.
For the day ahead, a move back through $30.7 to $31 levels would support a run at the day’s first major resistance level at $31.88 to bring $32 levels into play before any pullback, though we can expect plenty of resistance on the way through to $32 levels to hold back a breakout from the first major resistance level should sentiment improve across the market later in the day.