Bitcoin Cash rallied 8.26% on Saturday, following Friday’s 1.22% rise, to end the day at $1,085. An early dip to an intraday low $990.3 was the only bearish move of the day, with Bitcoin Cash’s struggles of breaking out from $1,000 coming to an end through the morning.
A late afternoon rally saw Bitcoin Cash rally to an intraday high $1,102.9, breaking through the day’s major resistance levels to test selling pressure at the 23.6% FIB Retracement Level of $1,100 for the first time since 22nd May, before easing back to sub-$1,100 levels by the day’s end. At the time of writing, Bitcoin Cash was down 0.29% to $1,081, with an early attempted break through the 23.6% FIB Retracement Level of $1,100 leading to a pullback to a morning low $1,072.2 before a partial recovery.
For the day ahead, breaking through the 23.6% FIB Retracement Level will be key to continue supporting the bearish trend reversal, with Bitcoin Cash’s pullback from $1,100 late on Saturday continuing to leave the extended bearish trend intact, with a slide back to $800 levels still possible near-term. Failure to move through $1,100 to test the day’s first major resistance level at $1,128.5 will likely weigh on Bitcoin Cash, to bring sub-$1,000 levels into play later in the day, investors likely to hold off for another dip.
Holding on to $1,000 levels in the early part of the day should continue to support a positive day ahead. Get Into Bitcoin Cash Trading Today Litecoin gained 3.14% on Saturday, following Friday’s 1.34% rise, to end the day at $123.65, its highest close since 23rd May’s $128.38.
Recovering from a start of the day intraday low $118.52, Litecoin rallied through the day’s first major resistance level at $121.52 in the late morning, before an afternoon rally saw Litecoin move through to $123 levels to test the day’s second major resistance level at $123.08 and hold, whilst falling short of the 23.6% FIB Retracement Level at $127, to leave the extended bearish trend intact. At the time of writing, Litecoin was down 0.74% to $122.74, with Litecoin pulling back from an early $123.97 high to an intraday low $122.56, Saturday’s gains under threat in the early part of the day as investors look to lock in profits ahead of the next move. Read more from fxempire.com…
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