Stellar under pressure, and Bitcoin Cash rises above $500.00
Last night, the price of Stellar climbed to the 0.107565 level, forming a new weekly high.
The price of Bitcoin Cash is back above the $500.00 level again this morning.
Stellar chart analysis
Last night, the price of Stellar climbed to the 0.107565 level, forming a new weekly high. After that, this morning, we were looking at a pullback to the 0.106000 support level. The fall stopped there, and the price started slightly recovering to the 0.106500 level. We are close to testing the EMA200 moving average and the 0.106675 zone. We need an impulse to move us above and back to the bullish side.
Potential higher targets are 0.107000 and 0.108000 levels. We need a new negative consolidation and a test of this morning’s support level for a bearish option. The new pressure in that zone will cause us to fall to a new daily low. It is a confirmation of the weak price of Stellar and the move to the bearish side. Potential lower targets are 0.105500 and 0.105000 levels.
Bitcoin Cash chart analysis
The price of Bitcoin Cash is back above the $500.00 level again this morning. A weekly high was formed at $502.46, after which we stopped there and initiated a pullback to $490.00. Price is under pressure to continue the pullback and look for support at lower levels. Potential lower targets are $485.00 and $480.00 levels.
Additional support in the $485.00 zone is the EMA50 moving average, while the EMA200 is in the $475.00 zone. We need a positive consolidation and a move above the $495.00 level for a bullish option. With that, we return to the positive side above the daily open price. Then, there is the need to stabilize above in order to continue the recovery. Potential higher targets are $505.00 and $510.00 levels.
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