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.