Stellar and Bitcoin Cash: Stellar in lateral consolidation
- The price of Stellar is retreating for the fifth day in a row.
- On Friday, Bitcoin Cash climbed to the $370.00 level.
Stellar chart analysis
The price of Stellar is retreating for the fifth day in a row. We are currently at 0.098300 and testing the EMA 200 moving average. There is no way to get rid of the pressure on the weekly open price. Yesterday and today, we retested that level several times. This could lead to a bearish impulse and the price of Stellar falling to a new weekly low. This confirms that the price was on the bearish side and could continue to fall.
Potential lower targets are 0.096000 and 0.094000 levels. A bullish option requires Stellar to climb to the 0.100000 level. Thus, we skip both the EMA 50 and EMA 200 moving averages. With their support, the chances of us starting a further recovery on the bullish side are growing. Potential higher targets are 0.101000 and 0.102000 levels.
Bitcoin Cash chart analysis
On Friday, Bitcoin Cash climbed to the $370.00 level. We couldn’t go any further, and a pullback to the $340.00 level was initiated. Over the weekend, the price recovered to $359.00 but had no strength to go above. This led us to see a bearish consolidation and pullback down to the $330.00 level on Sunday. On Monday morning, the price stabilized there and initiated a bullish consolidation.
That pushed Bitcoin Cash to a weekly high of $365.00. Mobi resistance in that zone triggers another pullback, this time to $345.00. The price is under pressure as it is now below the EMA 200 moving average, which could add to the bearish momentum. Potential lower targets are $340.00 and $330.00 levels. Movement at the weekly open level would decide in which direction the price will continue.
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