Bitcoin Cash – ABC Hammered Again
Bitcoin Cash ABC fell 16.37% on Thursday after a 12.3% slide on Wednesday to close the day at $ 106.43.
It was another particularly bearish day for Bitcoin Cash ABC, which saw red from the start, bucking the broader market that had seen a more bullish start.
Falling from a high intraday day start of $ 129.53, Bitcoin Cash ABC slid late into the low intraday day and new swing $ 104.74. The reversal saw the ABC Cash Bitcoin slip through the first major support level at $ 122.2 and the second main support level at $ 115.99, with the main untested resistance levels of the day.
The continuous slide saw Bitcoin SV at your fingertips, a gain of over 20% on the day leaving the couple at just $ 6 aside at the end of the day, rather a horror show for the Bitcoin Cash network that had high hopes of overturn Bitcoin.
At the time of publication, Bitcoin Cash ABC was down 10.05% to $ 95.73, with Bitcoin Cash ABC falling from a high day start $ 106.11 to a low $ 95.26 morning.
Bitcoin Cash ABC surpassed its first major support level at $ 97.6, in stark contrast to the Bitcoin Cash SV which rose 9.16% to $ 109.43 at the time of writing, the Bitcoin Cash SV team is now at the top.
For the next day, a switch back through the first major support level at $ 97.6 would signal a run at $ 100 levels and the morning high $ 106.11, while one would expect that the main resistance levels will not be tested in case of an unexpected rebound.
The failure to recover the first major level of support will likely see Bitcoin Cash ABC fall deeper into the red, with the second major support level at $ 88.78 much in play.
Litecoin sees red
Litecoin fell 8.63% on Thursday after a 6.54% drop on Wednesday to close the day at $ 26.25.
A bearish start to the day saw Litecoin drop from the first major support level to $ 27.84 to a minimum of $ 27.57 in the morning before finding support to reach a late-morning intraday high of $ 30.2.
Coming within range of the first resistance level of more than $ 30.32, Litecoin reversed the rest of the day, sliding back into the first major support level at $ 30.2 and second main support level at $ 27.84. at a minimum intraday and new swing the $ 25.73 before switching back up to $ 26 levels.
At the time of writing, Litecoin was down 3.24% to $ 25.4, with moves that went by early in the morning seeing Litecoin go down from the start of a day high $ 26.34 at a morning low and new swing of $ 25.19 before stabilizing. The main levels of support and resistance of the day have not been tested at the beginning.
For the day ahead, it would be necessary to go from the morning highs of $ 26.34 to $ 27 to signal the start of a Litecoin rally, even if Litecoin will have to exceed $ 27 in the early afternoon to support a race at the first resistance level greater than $ 29.06.
Failure to return during the morning could see Litecoin claiming great success throughout the day, a $ 25.19 morning retreat bringing $ 24 levels and the first major support level to $ 24.59 in play before any recovery.
Crossing the struggles with the Bears
Ripple's XRP fell 8.34% on Thursday after a 4.14% fall on Wednesday to close the day at $ 0.31065.
An early morning high intraday high of $ 0.34811 was the only bullish move of the day, with Ripple's XRP joining the broader market in reverse, slipping the first level of support to $ 0.3330 and the second support level at $ 0.3265 at an intraday low of $ 0.3065 before stabilizing.
At the time of writing this article, Ripple's XRP was down 3.02%, a decline from a morning high of $ 0.31386 to a minimum of $ 0.29761, leaving the main levels of support and resistance not tested at the beginning.
For the next day, it would be necessary to go back in the morning to $ 0.32 to report a Ripple XRP rebound to bring $ 0.33 levels and the first main resistance level to $ 0.3370 in play before any pullback , $ 0.34 unlikely levels to touch in the event of a rebound.
The non-resumption of the morning peak of $ 0.31386 could see Ripple's XRP drop deeper into the red, down to the low of $ 0.29761 and the first level of support increased to $ 0.2954 carrying in play $ 0.28 levels before any recovery, the second biggest support of the day at $ 0.2801 there to prevent heavier losses in the day.
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