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Bitcoin Cash – ABC – Struggles Again
Bitcoin Cash ABC fell by 3.66% on Thursday. Following on from a 4.3% slide on Wednesday, Bitcoin Cash ABC ended the day at $279.54
Bearish through the morning, Bitcoin Cash ABC slid from an early intraday high $290.3 to an early afternoon intraday low $275.06.
Falling shy of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $281.52.
Bitcoin Cash ABC found support through the early afternoon to briefly visit $284 levels before sliding back.
It was the first day that Bitcoin Cash ABC had failed to touch $300 levels since May.
At the time of writing, Bitcoin Cash ABC was down by 2.31% to $273.08. A particularly bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $279.83 to a low $270.93.
Falling well short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $272.97.
For the day ahead, Bitcoin Cash ABC would need to move through the morning high $279.83 to support a run at the first major resistance level at $288.21.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $279.83.
Barring a broad-based crypto rebound, Bitcoin Cash ABC would likely fall well short of $280 levels on the day.
Failure to move back through the morning high would leave Bitcoin Cash ABC deep in the red on the day.
A fall back through the first major support level at $272.97 would bring sub-$270 levels into play.
Barring another crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $266.39.
Litecoin Sees More Red
Litecoin slid by 5.01% on Thursday. Following on from an 8.13% tumble from Wednesday, Litecoin ended the day at $63.46
Tracking the broader market, Litecoin slid from an early intraday high $66.81 to an early afternoon intraday low $62.05.
Falling well short of the 62% FIB of $70, Litecoin fell through the first major support level at $63.
Finding support through the afternoon, Litecoin briefly visited $65 levels before sliding back.
The 2nd day of heavy losses led to a near-term bearish trend formation formed back at a swing lo $62.05.
At the time of writing, Litecoin was down by 1.61% to $62.44. Another bearish start to the day saw Litecoin slide from an early morning high $63.76 to a low $62.07 before steadying.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move through the morning high to $64 levels would support a run at the first major resistance level at $66.16.