Bitcoin Cash Slides as Litecoin and Market Gain Back Monday Losses

Images by Pexels and EivindPedersen from Pixabay

The Markets bounced back from Monday slide to get to the levels it has been trading at yesterday. The slow down brought the market cap to $130 billion level but it has since recovered to push at the resistance levels. This is exemplified by the Bitcoin which is struggling to break through resistance levels at the $4,000 mark. The bitcoin came close twice as it hit highs above $3,900 twice for the day. Overall, the market was favorable to neutral but not all came unscathed.

Bitcoin Cash Slid 0.66%

Bitcoin Cash ABC slid 0.66% from a high of $128.7 on the day to fall below $126. This comes after it fell 2.6% yesterday. Despite giving away gains, major support levels were not tested. The coin went up and stabilized around the $127 mark. On the testing of resistance levels, the day was uneventful.

If the currency finds momentum and push above $128, the next resistance level will be at the $129.04 mark. A rally is highly unlikely and will probably stay below the $130 level. Investors are not expecting any fall through and the crypto should stay above support levels and will likely stay above the $125 mark.

LiteCoin Gains Back Monday Losses

The Litecoin was stronger for the day as it reversed losses of 2.93% on Monday and gained 2.82% on Tuesday. The Litecoin fell past the support levels at $53.28 but rallied to an intra-day high of $56.70, pushing above the resistance levels at $56.48.

The key level is at $57 level. If the coin moves above the resistance, we could see a rally that will put it close to the $58 level. However, if it falls through below the supports at $56.48, the coin might fall below the $54 support and test the next support at $53.33 mark.

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