Stellar and Bitcoin Cash: Stellar gets new support yesterday
- The price of Stellar fell to 0.1312106 levels yesterday, a new weekly low.
- The strong bullish trend in the price of Bitcoin Cash continues throughout this week.
Stellar chart analysis
The price of Stellar fell to 0.1312106 levels yesterday, a new weekly low. After that, until this morning, we were moving in the 0.132000-1.136000 range below the EMA200 moving average. We then saw an impulse that moved us above the EMA200 and the 0.135000 level. We don’t stop there either but continue up to the 0.137500 level. That is our daily high for now, and it is possible that we will see a new one by the end of the day.
Potential higher targets are 0.138000 and 0.138500 levels. For a bearish option, we need a negative consolidation from here. By falling below 0.136500, we get indications of bearish momentum. By going down to the 0.135000 level, we test the EMA200 moving average and the weekly open price. By moving below, we go into bearish territory and can only hope for a drop to lower levels.
Bitcoin Cash chart analysis
The strong bullish trend in the price of Bitcoin Cash continues throughout this week. That takes us to a new high this morning at $576.13. In the last few hours, we are spinning in the $560.00-$570.00 range. We expect a new bullish impulse soon and a jump to a new weekly high. Potential higher targets are $580.00 and $590.00 levels.
We need a negative consolidation and pullback to the $550.00 level for a bearish option. By falling below this level, we return to the previous movement zone, $530.00-$550.00 range. By returning to that range, the price of Bitcoin Cash could significantly move away from the previous bullish trend and begin a further retreat. Potential lower targets are $520.0 and $510.00 levels. Additional support at $520.00 is the EMA50 moving average.
