Stellar and Bitcoin Cash: Stellar is trying to recover
- This morning, the price of Stellar retreated to the 0.098389 level, forming a new weekly low there.
- Yesterday’s bullish consolidation pushed the price of Bitcoin Cash up to $458.79.
Stellar chart analysis
This morning, the price of Stellar retreated to the 0.098389 level, forming a new weekly low there. A bullish consolidation was initiated from this support level, culminating in the previous two hours. With a couple of strong bullish impulses, the price climbed to 0.103500 and is on the threshold of reaching the 0.104000 level. We have received support from the EMA 50 and EMA 200 moving averages and now aim to hold above.
Potential higher targets are 0.104000 and 0.104500 levels. For a bearish option, Stellar prices would have to pull back to the 0.101500 level. This brings us back below the EMA 200, which will add pressure on the price to initiate a bearish consolidation. Potential lower targets are the 0.101000 and 0.100500 levels.
Bitcoin Cash chart analysis
Yesterday’s bullish consolidation pushed the price of Bitcoin Cash up to $458.79. We stayed there for a short time, and the price started a pullback below the $450.00 level. The inability to get new support there influenced us to continue the pullback this morning to the $428.00 level. There, we met the EMA 50 moving average, which for now, supports us and does not allow us to move below.
This triggered a new bullish consolidation of the price of Bitcoin Cash to the $439.00 level. We have little resistance there for now, and we need a new bullish impulse above to continue on the bullish side. Potential higher targets are the $450.00 and $460.00 levels. The price would have to pull back below the EMA 50 moving average and the $428.00 level for a bearish option. With that step, we continue today’s bearish trend. Potential lower targets are the $420.00 and $410.00 levels.
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