Stellar and Bitcoin Cash: Bitcoin Cash approached $490.00
- Last week we saw Stellar price pull back to support at the 0.102985 level.
- Bitcoin Cash fell below the $400.00 level last Wednesday.
Stellar chart analysis
Last week we saw Stellar price pull back to support at the 0.102985 level. This was followed by a recovery and the initiation of a positive consolidation above the EMA200 moving average up to the 0.112000 level. We also spent the weekend consolidating around the EMA200. Yesterday, we had a new bullish attempt; this time, we are climbing to a new high at the 0.113646 level. We stayed above for a short time, and the price started to pull back again until the support at 0.108000.
We managed to get that new support this morning and get back to the EMA200 at the 0.110700 level. We need an impulse that would move us above and thus strengthen the bullish option. Potential higher targets are 0.112000 and 0.113000 levels. We need a negative consolidation and pullback to this morning’s support at 0.108000 for a bearish option. We are thus testing the weekly support and will be under pressure to fall to a new lower low. Potential lower targets are 0.107000 and 0.106000 levels.
Bitcoin Cash chart analysis
Bitcoin Cash fell below the $400.00 level last Wednesday. A low was formed at $399.22, after which the price started a recovery and crossed above the $430.00 level. There, we got support from the EMA50 moving average, which continued the positive consolidation over the weekend. We are also receiving support from the EMA200 moving average, which made us climb to $487.74 on Monday.
A new seven-day high has been formed and we expect to see a continuation to the bullish side. Potential higher targets are $490.00 and $500.00 levels. We need a negative consolidation and a drop to the $460.00 level for a bearish option. Down there, we come across the EMA200 moving average. By breaking through this support level, the pressure on the price to start a further pullback will increase significantly. Potential lower targets are $450.00 and $440.00 levels.
