Stellar and Bitcoin Cash: Stellar steady above 0.91000
- Following a drop to the 0.085100 level last Monday, Stellar found crucial support, initiating a recovery to the 0.093000 level.
- Last week, the price of Bitcoin Cash reached the $343.95 level, forming a three-month low.
Stellar chart analysis
Following a drop to the 0.085100 level last Monday, Stellar found crucial support, initiating a recovery to the 0.093000 level. This support level played a significant role in our analysis, as it allowed us to test the EMA200 moving average. Despite some pressure, we managed to stay above the moving average line this week, a reassuring sign for the future.
A new weekly high was formed today at the 0.093231 level and we expect to see a continuation to the bullish side, indicating a potential upward trend. Potential higher targets are 0.094000 and 0.095000 levels. We need a negative consolidation and pullback below the EMA200 and 0.091000 levels for a bearish option, suggesting a potential downward trend. This pushes us to a new weekly low and confirms the bearish pressure on Stellar. Potential lower targets are 0.090000 and 0.890000 levels.
Bitcoin Cash chart analysis
Last week, the price of Bitcoin Cash reached the $343.95 level, forming a three-month low. After a short consolidation, recovery started, and by Friday, the price had risen to $406.81. There we encounter a new resistance that does not allow us to continue up. A fresh pullback pulled the price of Bitcoin Cash below the $380.0 level over the weekend. We got that new support and moved back above the EMA200 moving average and the $390.00 level.
This week’s high is $398.00; we are moving away from it now. This morning, a weekly low was formed at $382.00, while the resistance was $393.00. The EMA200 moving average increases pressure, which could negatively affect Bitcoin Cash. Potential lower targets are $380.00 and $375.00 levels.
