Stellar and Bitcoin Cash: Stellar pushes to new July high
- Over the weekend, we saw a very strong bullish consolidation in Stellar’s price.
- This morning, a new July high for the price of Bitcoin Cash was formed at the $405.47 level.
Stellar chart analysis
Over the weekend, we saw a very strong bullish consolidation in Stellar’s price. This resulted in the formation of a new high at the 0.107499 level this morning. We stopped at that point and started a bearish consolidation up to the 0.101150 level. We are under pressure from the EMA 50 moving average, which could negatively affect further price movements. Potential lower targets are the 0.100000 and 0.098000 levels.
Additional support for the price of Stellar is the EMA 200 moving average in the zone of 0.097000 levels. For a specific bullish option, we need a bullish consolidation above the 0.104500 level. This moves us above the EMA 50 and the weekly open price. After tha,t we can hope to start a further recovery at the bullish side. Potential higher targets are 0.106000 and 0.108000 levels.
Bitcoin Cash chart analysis
This morning, a new July high for the price of Bitcoin Cash was formed at the $405.47 level. The price’s inability to continue on the bullish side has caused it to initiate a bearish consolidation. We have now fallen to a new weekly low at the $370.00 level. For now, we are holding in that zone and testing the weekly open price there. If the support holds, we will see the initiation of a new bullish consolidation.
Potential higher targets are the $385.00 and $390.00 levels. For a bearish option, we need a negative consolidation and pullback of the doel to the $365.00 level. There, we will test the EMA 200 moving average. If he can’t stop it for us either, we will see an impulse below to a new low. Potential lower targets are the $360.00 and $355.00 levels.
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