Stellar and Bitcoin Cash: Bitcoin Cash jumps to $314.00

• This morning we saw Stellar price break above the 0.11800000 level.
• The price of Bitcoin Cash is jumping to a new weekly high this morning at the $314.00 level. 

Stellar chart analysis

This morning we saw Stellar price break above the 0.11800000 level. That took us up to the 0.12080133 level and the formation of the weekly high. For now, we are stopping there, and I am pulling back slightly from the 0.12000000 level. We still remain high, and this could result in a new impulse to higher levels. Potential higher targets are 0.121000000 and 0.12200000 levels.

For a bearish option, we would have to pull back to 0.11800000. Thus, we would break the previous bullish structure. Then, the price would form a new low and confirm the initial bearish momentum. Potential lower targets are 0.11700000 and 0.11600000 levels. Additional support is the EMA200 moving average at the 0.11600000 level.

Bitcoin Cash chart analysis

The price of Bitcoin Cash is jumping to a new weekly high this morning at the $314.00 level. Saturation of the bullish impulse is occurring, and we are starting to pull back below $300.00. The price is now under some pressure, and we can expect a drop below and a new low formed. This would give us confirmation of the bearish trend, and we will see a further retreat in the price of Bitcoin Cash. Potential lower targets are $290.00 and $280.00 levels.

We need a move to the $305.00 level for a bullish option. This confirms that the price has successfully formed the bottom of the $300.00 level. After that, we can expect a continuation of the bullish trend and a test of this morning’s high. Potential higher targets are $315.00 and $320.00 levels.

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