In This Article:
Bitcoin Cash – ABC Back in the $100s
Bitcoin Cash ABC rallied by 16.41% on Tuesday, following on from an 11.98% gain on Monday, to end the day at $103.65.
A late morning intraday low $84.18 was the only bearish move of the day, Bitcoin Cash ABC steering well clear of the first major support level at $80.59, before finding support from the broader cryptomarket.
Through the 2nd half of the day, Bitcoin Cash ABC hit a late in the day intraday high $105, breaking through the first major resistance level at $93.7 and second major resistance level at $98.9 to hold onto $100 levels by the day’s end.
At the time of writing, Bitcoin Cash ABC was up 10.92% to $114.97, early moves seeing Bitcoin Cash ABC breaking through the first major resistance level at $111.04, with a rise from a morning low $101.99 to a morning high $117 before easing back.
For the day ahead, holding above the first major resistance level through the morning would support another run at the second major resistance level at $118.43, with support from the broader market needed for Bitcoin Cash ABC to break out from $118 levels to bring $120 levels into play later in the day.
Failure to hold above the first major resistance level could see Bitcoin Cash ABC hit reverse later in the day, a pullback through the morning low $101.99 bringing sub-$100 levels into play, with the first major support level at $90.22 in play in the event of a broad based crypto sell-off.
Litecoin Holds onto $30
Litecoin gained 4.29% on Tuesday, following on from Monday’s 14.51% rally, to end the day at $30.12.
A relatively choppy day saw Litecoin fall to a late morning intraday low $27.71 before recovering to $28 levels through the afternoon, Litecoin holding well above the first major support level at $25.86.
It all boiled down to a late in the day broad based crypto rally, with Litecoin striking an intraday high $30.20, falling short of the first major resistance level at $31.19, while holding onto $30 levels.
At the time of writing, Litecoin was up 1.79% to $30.66, with moves through the early hours seeing Litecoin rise from a start of a day morning low $29.6 to a morning high $31.38, Litecoin breaking through the first major resistance level at $30.98, before easing back.
For the day ahead, a hold onto $30 levels through the morning would support another move through the first major resistance level to $31 levels to bring the second major resistance level at $31.83 and $32 levels into play, though Litecoin will need support from the broader market for a breakout from $31.8 levels later in the day.