Stellar and Bitcoin Cash: Stellar is consolidating
- In the last three days, the price of Stellar moved in the 0.086700-0.088500 range.
- Bitcoin Cash price is managing to stabilize above the EMA 200 moving average.
Stellar chart analysis
In the last three days, the price of Stellar moved in the 0.086700-0.088500 range. Today, we are in the upper part of this range above the EMA 200 moving average. We could soon see a break above the 0.088500 level and the formation of a new daily high. By jumping to 0.09000, we will create a new weekly high. This could establish a bullish path and push the price of Stellar to higher levels.
Potential higher targets are 0.092000 and 0.094000. We need a negative consolidation below the 0.086700 level for a bearish option. There, we will test the level of support. With a move below, Stellar will form a new daily low. This increases the pressure on the price to continue its decline and return to the levels from the beginning of the week. Potential lower targets are 0.086000 and 0.085000 levels.
Bitcoin Cash chart analysis
Bitcoin Cash price is managing to stabilize above the EMA 200 moving average. Now, we hope that the support at $340.00 will hold and that we will find the strength to initiate a recovery to the bullish side. This week’s high is at $349.71 and not far away. With a new impulse, we could easily climb there. Potential higher targets are $350.00 and $352.00 levels.
With the pullback below the EMA 200 moving average, Bitcoin Cash returns to the bearish side. It is still nothing critical as we have the support of the EMA 50 moving average. If we fall below that support, the picture changes further, and the bearish momentum increases. Potential lower targets are $336.00 and $334.00 levels.
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