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Bitcoin Cash – ABC – Struggles on
Bitcoin Cash ABC slid by 3.64% on Sunday. Following on from a 1.85% on Saturday, Bitcoin Cash ABC ended the week down 14.8% at $377.88.
A positive start to the day saw Bitcoin Cash ABC rise to a late morning intraday high $396.75 before hitting reverse.
While falling short of the first major resistance level at $402.35, Bitcoin Cash ABC moved through the 23.6% FIB of $393.
The reversal saw Bitcoin Cash ABC slide to a late intraday low $370.49 before finding support. Sliding back through the 23.6% FIB, Bitcoin Cash ABC also fell through the first major support level at $383.49 and second major support level at $374.82.
At the time of writing, Bitcoin Cash ABC was down by 0.49% to $376.01. A bearish start to the day saw Bitcoin Cash ABC fall to an early morning low $373.4 before finding support.
Steering clear of the major support levels, Bitcoin Cash ABC recovered to a morning high $379.31 before falling back into the red.
For the day ahead, a move through to $382 levels would support a bullish second half of the day. Bitcoin Cash ABC would need support from the broader market, however, to take a run at the first major resistance level at $392.92.
Barring broad-based crypto rally, Bitcoin Cash ABC would likely fall short of $400 levels for a 2nd consecutive day.
Failure to move through to $382 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through the morning low would bring the first major support level at $366.66 into play.
Litecoin Joins the Pack
Litecoin fell by 3.1% on Sunday. Reversing a 1.22% gain from Saturday, Litecoin ended the weel up 0.13% to $114.83.
A relatively choppy morning saw Litecoin fall from an intraday high $119.3 to a morning low $115.4 before finding support.
Steering clear of the major support and resistance levels, Litecoin recovered to $118 levels before succumbing to market forces.
An early afternoon sell-off saw Litecoin slide to an intraday low $111.09 before steadying. Litecoin fell through the first major support level at $115.0 and second major support level at $111.5.
At the time of writing, Litecoin was up by 1.45% to $116.50. Recovering from a start of a day morning low $112.66, Litecoin rose to a high $116.91 before easing back.
In spite of the early moves, Litecoin left the major support and resistance levels untested.
For the day ahead, a move through to $117 levels would support a run at the first major resistance level at $119.06.
Litecoin would need support from the broader market, however, to break out from $117 levels. Barring a broad-based crypto rally, Litecoin will likely fall short of $120 levels for a 2nd consecutive day.