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Bitcoin Cash ABC rose by 0.2% on Friday. Partially reversing a 1.15% fall from Thursday, Bitcoin Cash ABC ended the day at $306.58.
A particularly bearish start to the day saw Bitcoin Cash ABC tumble to an intraday low $291.91 before finding support.
The reversal saw Bitcoin Cash ABC slide through the first major support level at $301.76 and second major support level at $297.07.
Recovering through the day, Bitcoin Cash ABC rallied to a late afternoon intraday high $312 before easing back. The first major resistance level at $312.31 held Bitcoin Cash ABC on the day.
At the time of writing, Bitcoin Cash ABC was up by 1.11% to $310. Recovering from a fall to a morning low $305.49, Bitcoin Cash ABC rose to a high $310. The day’s major support and resistance levels were left untested early on.
For the day ahead, a hold above $305 levels through the morning would support further gains later in the day. A breakthrough to $312 levels would bring the first major resistance level at $315.08 into play.
Barring a broad-based crypto rally, Bitcoin Cash ABC will likely come up short of the second major resistance level at $323.59.
Failure to hold above $305 levels could see Bitcoin Cash ABC test the first major support level at $294.99. Barring a broad-based crypto reversal, however, Bitcoin Cash ABC would likely steer clear of sub-$290 support levels throughout the day.
Litecoin Tracks the Pack
Litecoin rose by 0.6% on Friday. Following on from a 3.69% rally on Thursday, Litecoin ended the day at $82.57.
Tracking the broader market, Litecoin slid to an early morning intraday low $80.02 before recovering.
In spite of the sell-off, Litecoin steered clear of the first major support level at $79.51. The recovery saw Litecoin strike a late afternoon intraday high $83.73 before easing back.
While falling short of the day’s major resistance levels, Litecoin broke through the 38.2% FIB of $83 before easing back to $82 levels.
At the time of writing, Litecoin was down 0.22% to $82.39. A mixed start to the day saw Litecoin fall from a morning high $82.93 to a low $81.80 before finding support. The day’s major support and resistance levels were left untested early on.
For the day ahead, a hold onto $82 levels through the morning would support a recovery later in the day. A move through the morning high $82.93 would bring $84 levels and the first major resistance level at $84.19 into play.
Barring a broad-based crypto rally, Litecoin will likely struggle to hold above the 38.2% FIB of $83 in the event of a recovery.
Failure to hold onto $82 levels could see Litecoin fall deeper into the red. A fall through the morning low $81.80 could bring $80 levels into play before any recovery.