Stellar under pressure since Saturday drops to a new low
- The price of Stellar is under a lot of pressure after climbing to 0.103666 on Saturday
- Since Saturday, the price of Bitcoin Cash has been in a bearish trend
Stellar chart analysis
The price of Stellar is under a lot of pressure after climbing to 0.103666 on Saturday. From there, a bearish consolidation was initiated and a drop below the 0.100000 level. We have been under additional pressure since yesterday after falling below the EMA 200 moving average. Bearish momentum continued today to a new low at 0.095555 levels. For now, we are holding above and trying to stop further pullbacks.
Potential lower targets are the 0.095000 and 0.094000 levels. For a bullish option, we need the Stellar price to return above the 0.09700 level, the daily open price. That’s why we need to try to stay on top. If we succeed, we can hope to start a bullish consolidation and further recovery. Potential higher targets are the 0.098000 and 0.099000 levels.
Bitcoin Cash chart analysis
Since Saturday, the price of Bitcoin Cash has been in a bearish trend. After forming last week’s high at $370.58, the price began to retreat from that level. Yesterday, we saw a break below the EMA 200 moving average, which further strengthened the bearish momentum, pushing the price to a new low at the $340.00 level. Last night, we stopped there and recovered up to the $347.50 level. After that, another bearish consolidation was initiated, this time to $337.42 to a new weekly low.
Potential lower targets are the $336.00 and $334.00 levels. For a bullish option, we need a positive consolidation and return of Bitcoin Cash above the daily open price of $342.50. Then, we need to stabilize there before continuing to the bullish side. Potential higher targets are the $344.00 and $346.00 levels.
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