Stellar and Bitcoin Cash: Stellar launches a bullish option
- On Monday, the price of Stellar first retreated to a new low at 0.093068
- The price of Bitcoin cash dropped to support at $330.00 on Monday
Stellar chart analysis
On Monday, the price of Stellar first retreated to a new low at 0.093068. After that, we saw consolidation in that zone. With the new support above 0.093500 there was a strengthening of the bullish momentum. The price initiated a bullish consolidation and climbed to 0.096500 and the EMA 200 moving average. This morning, we got new support, pushing the price to continue yesterday’s bullish trend.
Stellar thus climbed to 0.099200, forming a new weekly high. Potential higher targets are 0.099500 and 0.100000 levels. We are currently stalling at that level and moving back slightly to 0.098500. Going below the price will increase the bearish momentum and move away from the weekly high. After that, it remains to see a further pullback and the formation of a new low. Potential lower targets are 0.098000 and 0.097500 levels.
Bitcoin Cash chart analysis
The price of Bitcoin cash dropped to support at $330.00 on Monday. After that, it took some time for the price to consolidate and start a war up to the $338.00 level. This was supported by the EMA 50 moving average, which had a positive effect on the price below. This morning, we had a new bullish impulse and the formation of a new weekly high at the $347.05 level. We didn’t have the strength to go on because Bitcoin Cash began to retreat to the $342.00 level.
It is very possible that we will retest the EMA 200 moving average. If the price continues to pull below, it will only strengthen the bearish momentum. Potential lower targets are $340.00 and $338.00 levels. We need a positive consolidation back to the weekly high for a bullish option. A new presence of the price in that zone would increase optimism for a continuation to the bullish side. Potential higher targets are $348.00 and $350.00 levels.
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