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Bitcoin Cash – ABC – Bounces
Bitcoin Cash ABC rose 6.31% on Saturday. After a 2.55% gain over Friday, Bitcoin Cash ABC ended the day at $ 165.51.
Bitcoin Cash ABC had a particularly strong start to the day, peaking at $ 168.52 intra-day.
Bitcoin Cash ABC, which increased by $ 155.68 early in the day, broke through the first major resistance level at $ 159.25 and the second major resistance level at $ 162.63.
Bitcoin Cash ABC dropped to 160.78 USD afternoon before stabilizing.
At the time of writing this article, Bitcoin Cash ABC was down 2.63% to $ 161.16. A bearish start to the day saw Bitcoin Cash ABC drop from a high of the morning of $ 165.19 to a low of $ 160.53. The main levels of support and resistance of the day were not tested early.
For the day ahead, a return to the $ 163 levels would mark a rebound later in the day.
Barring a large-scale encryption rally, we expected Bitcoin Cash ABC to be $ 170.79 from the first resistance level. Saturday's $ 168.52 increase would probably limit any increase to the day, in case of a recovery.
If we did not return to the levels of $ 163, ABC Bitcoin Cash could return to levels below $ 160 before any recovery.
A continuous sale throughout the day could allow Bitcoin Cash ABC to test the first level of major support at $ 157.95. However, unless there is a widespread widespread sale, we would expect Bitcoin Cash ABC to maintain a level of USD 160 that day.
Litecoin finds support
The litecoin rose by 2.20% on Saturday. After a 1.2% gain on Friday, the Litecoin ended the day at $ 60.43.
In the wake of the broader market, Litecoin went from $ 58.94 down the day to $ 61.0 mid-morning.
In clearing the first major support level at $ 58.17, the Litecoin broke the first major resistance level at $ 59.75 and the second major resistance level at $ 60.38. Litecoin also broke through and stayed above the FIB (23.6%) for $ 60.
At the time of writing this report, Litecoin was down 0.76% to $ 59.97. In search of the wider market, Litecoin rose from a morning high to $ 60.44 to a low of $ 59.45. The morning peak of $ 60.44, early in the day, did not reach the first major resistance level, at $ 61.31. The reversal saw Litecoin fall to 60.6% of the FIB, or 23.6% of GDP, to be in the range of the first major support level at $ 59.25 before stabilizing.
For the day ahead, the Litecoin is expected to return to a level of $ 60 to reach the first major resistance level at $ 61.31. Litecoin would however need wider market support to stand out from the FIB at 23.6%. The 23.6% FIB continued to limit Litecoin's peak to $ 61 last week.
If you do not return to $ 60, Litecoin will experience greater success later in the day. A drop of the first major support level to $ 59.25 could bring the levels to $ 58 before any recovery.
However, unless an extended sale throughout the day, we would expect the Litecoin to avoid the second level of major support at $ 58.06.
The rippling is struggling
The Ripple XRP rose 0.42% on Saturday. After dropping 0.01% on Friday, Ripple's XRP ended the day at $ 0.3160.
The day that Ripple's XRP reached a relatively low level reached a high of $ 0.3175 in the middle of the morning, before slacking off. The anticipated move saw Ripple's XRP collide at the first major resistance level at $ 0.3177.
The $ 0.31339 drop early in the day helped Ripple's XRP avoid major support levels. For crypto bulls, it was the second consecutive day of less than $ 0.32.
At the time of writing, Ripple's XRP was down 0.6% to $ 0.31410. Below major resistance levels, the Ripple XRP slid from the morning high at $ 0.31596 to a low of $ 0.31288. Ripple's XRP went through the first major support level at $ 0.3138.
For the day ahead, a return to $ 0.3155 would be a sign of a possible rally in the afternoon. A breakthrough of the first major resistance level at $ 0.3179 would however be necessary for the $ 0.32 levels to come into play.
Barring a large-scale encryption rally, we expect Ripple's XRP rate to continue to be less than $ 0.32. The second major resistance level at $ 0.3197 would bring Ripple's XRP in the event of a bullish move.
If the level does not reach $ 0.3155, Ripple's XRP may sink into red. A decline of the first major support level to $ 0.3138 would bring the second major support level to $ 0.3115.
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