In This Article:
Bitcoin Cash – ABC – Avoids a Meltdown
Bitcoin Cash ABC ended the day flat on Thursday. Following a 3.34% gain from Wednesday, Bitcoin Cash ABC ended the day at $398.
A choppy morning saw Bitcoin Cash ABC rise to an early morning intraday high $402.83 before hitting reverse.
Leaving the major resistance levels untested, Bitcoin Cash ABC tumbled to an early afternoon intraday low $366.68.
The reversal saw Bitcoin Cash ABC slide through the 23.6% FIB of $393 and first major support level at $379.61.
Support late in the day led to a partial recovery to $398 levels to reverse the deficit on the day.
At the time of writing, Bitcoin Cash ABC was down by 1.01% to $394.0.
A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $395.3 to a low $389.32 before finding support.
Bitcoin Cash ABC left the major support and resistance levels untested early on, whilst falling through the 23.6% FIB of $393.
For the day ahead, a move back through to $400 levels would be needed to support a run at the first major resistance level at $411.66.
Bitcoin Cash ABC would need support from the broader market, however, to break out from Thursday’s high $402.83.
Barring a broad-based crypto rally, the 23.6% FIB of $393 could limit the upside on the day.
Failure to move through to $400 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through to sub-$390 levels would bring the first major support level at $375.51 into play before any recovery.
Barring a crypto sell-off, Bitcoin Cash ABC would likely avoid a return to sub-$370 levels on the day.
Litecoin Makes a Move
Litecoin rallied by 7.35% on Thursday. Following on from a 1.63% gain from Wednesday, Litecoin ended the day at $111.47.
Tracking the broader market through the day, Litecoin rose to an early morning high $105.67 before hitting reverse.
Falling short of the first major resistance level at $106.53, Litecoin slid to a late afternoon intraday low $101.05.
In spite of the reversal, Litecoin steered clear of the first major support level at $100.53 and bounced back to a late intraday high $112.33.
The late rally saw Litecoin break through the first major resistance level at $106.53 and second major resistance level at $109.26.
At the time of writing, Litecoin was down by 0.27% to $111.17. A mixed start to the day saw Litecoin rise to a morning high $112.12 before falling to a morning low $109.9.
Steering well clear of the major support and resistance levels, Litecoin managed to recover to $111 levels.
For the day ahead, a hold above $109 levels through the morning would support a run at the first major resistance level at $115.52.