Stellar and Bitcoin Cash: Stellar falls to a three-week low
The price of Stellar continues its bearish trend, forming a new weekly low today at the 0.104000 level.
On Friday, Bitcoin cash retreated to the $446.98 level.
Stellar chart analysis
The price of Stellar continues its bearish trend, forming a new weekly low today at the 0.104000 level. We are still in the pressure zone to slide to a new low. Yesterday we had a bullish consolidation that was stopped at the 0.10700 level. Additional resistance at that level was in the EMA200 moving average. We failed to move above, and a pullback to today’s low followed.
Potential lower targets are the 0.103500 and 0.103000 levels. We need a positive consolidation and a return above the weekly open price of 0.105080 for a bullish option. With this, we return to the positive side and strengthen the bullish momentum. Potential higher targets are 0.106000 and 0.107000 levels.
Bitcoin Cash chart analysis
On Friday, Bitcoin cash retreated to the $446.98 level. After that, we quickly stabilized in that zone and started the recovery. On Saturday, we get support at the $454.00 level and rise to the $466.00. New volatility on Sunday, but this time, we only go down to the $454.00 support level. Monday brings a new bullish consolidation up to $470.00 and the EMA200 moving average. Today, we again managed to make a step above to $472.00 to the weekly high.
We hope to continue this positive consolidation and climb to higher levels. Potential higher targets are $474.00 and $476.00 levels. We need a negative consolidation and pullback down to the $460.00 level for a bearish option. With that, we attack this morning’s support zone. The impulse below will form a new one and confirm a continuation to the bearish side. Potential lower targets are $458.00 and $456.00 levels.
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