Bitcoin Cash Finds Support

Bitcoin Cash gained 0.59% on Sunday, partially reversing Saturday’s 0.90% fall to end the week down 2.94% at $442.8, with Sunday’s gain only the second of the week, the first being Monday’s 0.07% rise.

Range bound by historical standards, a morning high $442.5 failed to gather momentum, with Bitcoin Cash pulling back to a late in the day intraday low $438.1 before a late rally to an intraday high $443.4. The moves through the day left the day’s major support and resistance levels left untested, with the highlight of the day being Bitcoin Cash’s recovery to $440 levels.

At the time of writing, Bitcoin Cash was down 0.34% to $441.1, with Bitcoin Cash pulling back from an early morning high $443.2 to a morning low $440.3 before steadying, the early moves leaving the day’s major support and resistance levels untested.

For the day ahead, a hold on to $441 levels would support a run at the morning high to bring the day’s first major resistance level at $444.7 into play before any pullback, with the second major resistance level at $446.7 unlikely to be tested through the day.

Failure to hold on to $441 levels through the morning could see Bitcoin Cash pullback through the morning low $440.3 to test the day’s first major support level at $439.4, while the second major support level at $436.1 will likely be left untested barring materially negative news hitting the wires.

Litecoin Still in the $50s

Litecoin gained just 0.04% on Sunday, following a 0.12% fall on Saturday, to end the week down 1.32% at $51.54. The minor gain saw Litecoin end a run of 4 consecutive days in the red.

Tracking the broader market through the day, Litecoin moved through to an early intraday high $51.66 before hitting reverse, falling to a late in the day intraday low $51.11, Litecoin falling through the first major support level at $51.29 before finding support.

A late recovery saw Litecoin move back through to $51.5 levels, the day’s major resistance levels left untested in a particularly range bound day.

At the time of writing, Litecoin was up just 0.04% to $51.55, with the start of the day seeing Litecoin move to a morning high $51.63 only to fall to a morning low $51.43 before recovering, the tight ranges early on leaving the day’s major support and resistance levels untested.

For the day ahead, holding onto $51.5 levels through the morning would support another run at the first major resistance level at $51.76, with any broad based cryptomarket rally supportive of a run at the second major resistance level at $51.99 to bring $52 levels into play before any pullback.