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Bitcoin Cash – ABC – Sees Red again…
Bitcoin Cash ABC fell by 1.21% on Sunday. Following on from a 1.24% decline on Saturday Bitcoin Cash ABC ended the day at $310.99.
A third consecutive day in the red left Bitcoin Cash ABC up by just 0.8% for the week.
Bearish from the start of the day, Bitcoin Cash ABC slid from an early morning intraday high $309.51 to an early morning low $303.77.
The sell-off saw Bitcoin Cash ABC fall through the first major support level at $308.41 and second major support level at $305.83.
Finding support through the late morning, Bitcoin Cash ABC recovered to $308 levels before sliding back through the second major support level.
The second sell-off saw Bitcoin Cash ABC slide to a late afternoon intraday low $303 before finding support.
In spite of the late support, the second major support level at $305.76 pinned Bitcoin Cash ABC back at the day end.
At the time of writing, Bitcoin Cash ABC was down by 0.67% to $303.72. Another bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $305.29 to a low $303.27.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through the morning high to $306 levels would support a run at the first major resistance level at $309.18.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from this morning’s high $305.29.
Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $309.51 would likely limit any upside.
Failure to move through to $306 levels could see Bitcoin Cash ABC spend a 4th consecutive day in the red.
A fall through the first major support level at $302.67 would bring sub-$300 and the second major support level at $299.58 into play.
Litecoin Sees More Red
Litecoin fell by 1.27% on Sunday. Following on from a 2.52% slide on Saturday, Litecoin ended the day at $72.26.
In spite of 4 consecutive days in the red, Litecoin gained 3.02% for the week.
A particularly bearish start to the day saw Litecoin slide from an early morning intraday high $73.25 to an intraday low $71.02.
The reversal saw Litecoin fall through the first major support level at $71.65.
Finding support from the broader market, Litecoin recovered to $72.8 levels before sliding back to an afternoon low $71.37.
Litecoin fell back through the first major support level before a late recovery. The late recovery to $72 levels limited the downside on the day.
At the time of writing, Litecoin was down by 0.61% to $71.82. Another bearish start to the day saw Litecoin slide from a morning high $72.51 to a low $71.57.