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Bitcoin Cash – ABC – sees red again
Bitcoin Cash ABC lost 1.67% on Saturday. By reversing the rise of 1.17% over Friday, Bitcoin Cash ABC closed the day at $ 167.
Bearish throughout the day, Bitcoin Cash ABC has gone from a start of the day at $ 170.66 to a low of $ 164.17.
The top of the day saw ABC's Bitcoin Cash fall in the range of the first major resistance level at $ 170.97 before hitting backwards.
The reversal allowed Bitcoin Cash ABC to break through the first main support level at $ 167.47 and the second major support level at $ 164.17. A partial recovery at the end of the afternoon allowed Bitcoin Cash ABC to recover thanks to the second level of support.
At the time of writing this article, Bitcoin Cash ABC was down 1.2% to $ 165.0. The early withdrawal of the end of Saturday at $ 167 left the main levels of support and resistance untested early.
For the day ahead, we should go back to $ 167 for Bitcoin Cash ABC to reach $ 170. Bitcoin Cash ABC would need broader market support to break the first resistance level at $ 170.38. Unless a generalized rally, we would expect Bitcoin Cash ABC to continue struggling at $ 170 a day.
If the level did not reach $ 167, Bitcoin Cash ABC could still fall back. A drop of $ 164.17 per Saturday would raise the first level of major support to $ 163.89. Unless crypto collapses, Bitcoin Cash ABC should avoid heavier losses that day.
Litecoin Keys under- $ 60 Levels
The litecoin lost 1.66% on Saturday. Canceling an increase of 1.59% over Friday, Litecoin ended the day at $ 60.25
In search of the broader market, Litecoin slipped from an intra-day high of $ 61.37 to a late low of $ 59.71.
Litecoin did not reach the first major resistance level at $ 61.8, while Litecoin broke through the first level of support at $ 60.23. In clearing the second major support level at 59.24 USD, Litecoin recovered with a FIB of 60.6 USD to 23.6%.
At the time of writing, Litecoin was down 0.4% to $ 60.01. A bearish early day saw the Litecoin plummet from a high of $ 60.35 to $ 59.76 before reaching a support. While leaving the main levels of support and resistance untested, Litecoin quickly rose to FIB (23.6%) from $ 60.
For the day ahead, a return to the $ 60.40 levels would mark another pbad at $ 61 later in the day. A recovery across the entire market would put the first major resistance level at 61.18 USD. However, barring a large-scale encryption rally, we expect the Litecoin to continue dropping to $ 62.
If you fail to reach the levels of $ 60.40, Litecoin could struggle all day. A fall in the morning at 59.76 USD would bring the first major support level to 59.52 USD. Except for a crypto sale, we expect the Litecoin to avoid heavier losses the same day.
Ripple Bucks the trend
The Ripple XRP rose 0.93% on Saturday. After a 0.69% rise on Friday, Ripple's XRP ended the day at $ 0.31629.
The Ripple XRP rally started optimistically. It went from an intraday trough of 0.31252 USD to a higher intraday of 0.32393 USD.
Avoiding the main support levels, Ripple's XRP broke through the first main resistance level at $ 0.3165 and the second major resistance level at $ 0.3195 before releasing.
Ripple's XRP dropped to $ 0.3140 before returning to the first level of resistance.
It was a first visit at $ 0.32 since 21st March.
At the time of writing, Ripple's XRP was down 0.86% to $ 0.31358. The early day of the decline was marked by the drop in Ripple's XRP exchange rate, which rose from a morning high of $ 0.31647 to a low of $ 0.31254. Despite early defeats, Ripple's XRP avoided the major support and resistance levels of the day.
For the day ahead, a return to the levels of $ 0.3170 would bring levels of $ 0.32 and the first major resistance level to $ 0.3226. Ripple's XRP would however need the help of the wider market to be able to react to Saturday's win.
If it does not reach $ 0.3170, the Ripple XRP may be affected later in the day. A decrease of $ 0.31254 compared to the morning would bring the first level of major support to $ 0.3112. However, barring an extended sale during the day, we would expect Ripple's XRP to avoid support levels below US $ 0.31.
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