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Bitcoin Cash – ABC – Holds onto $160
Bitcoin Cash ABC fell by 6.95% on Saturday, partially reversing Friday’s 17.26% rally, to end the day at $160.15.
A mixed session saw Bitcoin Cash ABC fall from a start of a day intraday high $174.82 to a morning low $162.48 before recovering to $170 levels late in the day. Tracking the broader market, an end of day reversal saw Bitcoin Cash ABC slide to an intraday low and end of day $160.15.
The moves through the day left the major support and resistance levels untested, while the late reversal saw Bitcoin Cash ABC fall through the 38.2% FIB Retracement Level of $163.
At the time of writing, Bitcoin Cash ABC was up 0.68% to $161.24, with moves through the morning seeing Bitcoin Cash ABC fall from a start of a day morning high $163.01 to a morning low $157.11 before recovering, Bitcoin Cash ABC falling through the 38.2% FIB Retracement Level of $163, while leaving the day’s major support and resistance levels untested.
For the day ahead, a move back through the 38.2% FIB to $165 levels would support a run at the first major resistance level at $169.93 to bring $170 levels into play before any pullback, the second major resistance level at $179.71 unlikely to be in play, with Saturday’s high $174.82 likely to pin Bitcoin Cash ABC back on the day.
Failure to move through the 38.2% FIB could see Bitcoin Cash ABC hit reverse later in the morning, a pullback through the morning low $157.11 bringing the first major support level at $155.26 into play, with heavier losses unlikely barring a broad based crypto pullback.
Litecoin Holds onto $30s
Litecoin slid by 4.91% on Saturday, partially reversing Friday’s 16.23% bounce, to end the day at $30.63.
Most of the action came late, Litecoin range bound through much of the day, with Litecoin moving to a late in the day intraday high $33.24 before hitting reverse, the day’s high coming up short of the first major resistance level at $34.59.
The late reversal saw Litecoin fall to an intraday low $30.3, steering clear of the day’s first major support level at $28.78.
At the time of writing, Litecoin was up 1.99% to $31.24, with Litecoin recovering from a morning low $29.95 to hit a morning high $31.27, the day’s major support and resistance levels left untested early on.
For the day ahead, a move through to $31.4 levels would support a run at $32 levels to bring the first major resistance level at $32.48 into play, with Litecoin needing support from the broader market to take a run at $33 levels and Saturday’s high $33.24.