Stellar and Bitcoin Cash: Stellar is trying a new recovery
- The price of Stellar fell to a new weekly low yesterday at the 0.090644 level
- Bitcoin Cash retreated to the $314.44 level yesterday, forming a new weekly low there
Stellar chart analysis
The price of Stellar fell to a new weekly low yesterday at the 0.090644 level. After that, we quickly consolidated and started a recovery that continues today. A new daily high was formed at the 0.094000 level, and based on that, we can hope for further growth on the bullish side. We are close to moving above the EMA50 moving average and getting its support.
Potential higher targets are 0.095000 and 0.096000 levels. In the 0.097000 zone we will have significant resistance in the EMA200 moving average. For a bearish option, the price of Stellar must go back down below the 0.092500 level. With that, we move below the daily open level. This will strengthen the bearish momentum to start a further retreat and the formation of a new low. Potential lower targets are 0.092000 and 0.091000 levels.
Bitcoin Cash chart analysis
Bitcoin Cash retreated to the $314.44 level yesterday, forming a new weekly low there. After a short consolidation, the price began to recover and is now at the $328.00 level. We are trying to move above the EMA 50 moving average and get its support. If we succeed in this, the chances of us starting a bigger recovery increase.
Potential higher targets are the $335.00 and $340.00 levels. At $340.00, we will try to break the 200 EMA to continue the resistance to the previous highs. For a bearish option, we need a negative consolidation and pullback to the $320.00 level. This brings us back below the daily open level and increases the pressure on the price to start a further retreat. Potential lower targets are the $315.00 and $310.00 levels.
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