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Bitcoin Cash – ABC – on the Defensive
Bitcoin Cash ABC slipped by 0.17% on Saturday. Partially reversing a 0.43% gain from Friday, Bitcoin Cash ABC ended the day at $406.52.
A relatively choppy day saw Bitcoin Cash ABC recover from a morning low $405.68 to a late morning intraday high $415 before hitting reverse.
Falling well short of the first major resistance level at $423.27, Bitcoin Cash ABC slid to a late intraday low $401.
Holding well above the first major support level at $394.66, Bitcoin Cash ABC recovered to $406 level at the day end.
At the time of writing, Bitcoin Cash ABC was by 1.6% to $400.00. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $504.73 before falling to a low $400.00.
Falling short of the first major resistance level at $414.01, Bitcoin Cash ABC tested the first major support level at $400 early on.
For the day ahead, a move back through to $407.5 levels would support a run at the first major resistance level at $414.01.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to breakout from a return to $405 levels.
Barring a broad-based crypto rebound, however, Bitcoin Cash ABC would likely come up short of $410 levels on the day.
Failure to move back through to $407.5 levels could see Bitcoin Cash ABC take a bigger hit on the day. A fall through the first major support level would bring the second major support level at $393.51 into play.
Barring a continued reversal across the broader market, however, Bitcoin Cash ABC would likely steer clear of sub-$390 levels on the day.
Litecoin Finds sub-$100 Support
Litecoin rose by 2.34% on Saturday. Following on from a 12.93% breakout on Friday, Litecoin ended the day at $103.02.
A bullish start to the day saw Litecoin rally to an early intraday high $104.95 before pulling back to sub-$100 levels.
Falling short of the first major resistance level at $106.86, Litecoin fell to an early afternoon intraday low $98.8 before finding support
Holding well above the first major support level at $91.17, Litecoin recovered to $100 levels.
At the time of writing, Litecoin was down by 0.95% to $102.04. A choppy start to the day saw Litecoin rise to a morning high $104.2 before hitting reverse. Falling short of the first major resistance level at $105.71, Litecoin fell to a morning low $101.19.
In spite of the early reversal, Litecoin held above the first major support level at $99.56.
For the day ahead, a hold onto $102 levels would support another run at the first major resistance level at $105.71.
Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $104.2.