Stellar and Bitcoin Cash: Stellar retests previous low
- Yesterday, we saw an attempt by the price of Stellar to break above the weekly open price, but it all ended without success.
- The price of Bitcoin Cash dropped to $349.05 this morning.
Stellar chart analysis
Yesterday, we saw an attempt by the price of Stellar to break above the weekly open price, but it all ended without success. The 0.105000-0.106000 resistance zone held, and we had to go into another pullback. This morning, a daily low was formed at the 0.099845 level. Since then, the price has been moving in the 0.100500-0.102000 range. For the above, we are currently gaining strength and turning again to the bearish side.
Potential lower targets are the 0.099000 and 0.098000 levels. For a bullish option, we need a positive consolidation and Stellar price jump to the 1.03000 level. There, we will try to get the EMA 200 moving average support. With his support, we expect the start of a more concrete recovery and new testing of the weekly open price. Potential higher targets are the 0.106000 and 0.107000 levels.
Bitcoin Cash chart analysis
The price of Bitcoin Cash dropped to $349.05 this morning. The support at the $360.00 level did not hold, and we saw a drop to the weekly low. Since the start of this week, prices have been in a constant bearish trend. By falling below $380.00, we pulled back below the EMA 200 moving average, which only accelerated the pullback. Now, the price is at $350.00, and the chances of it falling to a new lower low are increasing.
Potential lower targets are $348.00 and $346.00 levels. We need a positive consolidation and a move above the $354.00 level for a bullish option. With this, we skip the previous movement level and form a new high. After that, Bitcoin Cash will have a chance to initiate a bullish consolidation and recover. Potential higher targets are $356.00 and $358.00 levels.
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