Stellar fell to 0.118444 on Tuesday, what about BTC Cash?
- The price of Stellar fell to 0.118444 on Tuesday.
- This week’s Bitcoin Cash price low was formed on Tuesday at the $340.00 level.
Stellar chart analysis
The price of Stellar fell to 0.118444 on Tuesday. After a low at that level formed, a recovery and bullish consolidation were initiated, which continues today. This morning, a two-day high formed at the 0.143500 level, which is our resistance level for now. Since then, we have been moving in the 0.138500-0.1435000 range. Consolidation is slightly bullish, and we expect a new test of the previous high.
Potential higher targets are the 0.145000 and 0.145750 levels. For a bearish option, we need a price pullback to the EMA200 and 0.133800 levels. New pressure on the support zone could easily lead to a drop below and form a new low. Thus, we confirm that we are in a bearish trend and expect a retreat to lower levels. Potential lower targets are the 0.130000 and 0.125750 levels.
Bitcoin Cash chart analysis
This week’s Bitcoin Cash price low was formed on Tuesday at the $340.00 level. From then until today, we are in a bullish consolidation supported by the EMA200 moving average at the $395.00 level. Today’s price high was this morning at the $424.00 level. After that price, it retreats and keeps below the $410.0 level. We need a new, stronger, bullish impulse to break above the $425.00 level. This would form a new daily high and strengthen the bullish position.
Potential higher targets are $430.00 and $440.00 levels. If we fail in that intention, the price turns to the bearish side. Once again we are forced to look for support in the EMA200 and $390.00 level. A drop below increases the pressure on the weakened Bitcoin Cash, and the potential lower targets are the $380.00 and $370.00 levels.
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