Stellar is recovering, Bitcoin Cash is back below $300.00
- A new low for the price of Stellar was formed yesterday at the 0.075736 level.
- The price of Bitcoin Cash fell again after a month below the $300.00 level.
Stellar chart analysis
A new low for the price of Stellar was formed yesterday at the 0.075736 level. With the price falling to this level, a new 12-month low was formed. After that, we were able to stabilize down there and initiate a recovery at the 0.088200 level this morning. There, we got the support of the EMA 50 moving average for further continuation on the bullish side. This led to the formation of a new weekly high at the 0.092000 level.
Investors can feel optimistic about Stellar’s potential recovery to higher levels. The 0.094000 and 0.96000 levels are within reach, with additional resistance at the 200 EMA at 0.094000. A bearish option would require negative consolidation and a pullback below the 0.088000 level, leading to a rise in bearish momentum. However, for now, the focus is on the potential higher targets of 0.084000 and 0.082000 levels.
Bitcoin Cash chart analysis
The price of Bitcoin Cash fell again after a month below the $300.00 level. We saw how a new low was formed yesterday at $273.33. After that, the price manages to stop further retreat. With two bullish impulses, we broke away from the support zone and started a recovery. This morning, a new high was formed at $330.00, and we were close to testing the weekly open price. For now, we encounter resistance there and make a pullback to the $315.00 level.
This is where the price of Bitcoin Cash could find new support to continue on the bullish side. Potential higher targets are the $340.00 and $360.00 levels. For a bearish option, we need negative consolidation, a drop below $300.00, and the daily open price. This confirms the return to the bearish page. Potential lower targets are the $280.00 and $260.00 levels.
