Stellar and Bitcoin Cash: Stellar withdrawal from last night

Stellar chart analysis

Last night, we saw Stellar at a new high at the 0.162874 level. Over the weekend, we moved in a sideways consolidation in the 0.13500-0.14500 range. Monday brought us strong bullish impulses and a jump to last night’s high. Today we are looking at a pullback below the 0.160000 level all the way to support at the 0.147500 level. Additional support is found in the EMA50 moving average, and the price successfully holds above.

We could expect the initiation of positive consolidation and a return to the bullish track. Potential higher targets are 0.155000 and 0.160000 levels. By returning above the daily open price, we have the opportunity to test last night’s high and start further growth. If the price falls below the EMA50 and 0.145000 levels, it will be under a lot of pressure to continue the pullback. Potential lower targets are 0.142500 and 0.140000 levels.

Bitcoin Cash chart analysis

Over the weekend, we watched Bitcoin Cash pull back from the $458.80 to $410.00 level. On Monday, we slipped even lower to the $401.61 level. We found support there and moved back above $420.00 and the EMA200 moving average. The new bullish consolidation took us up to the $456.55 level and formed a weekly high there. We are stopping there, and today, we are looking at a pullback from that level to support at $420.00.

We are once again receiving support from the EMA200 moving average and turning to the bullish side. We are now at $430.00 and expect a continuation of positive consolidation and a move above the EMA50 moving average. Potential higher targets are $440.00 and $450.00 levels. If we were to slip below the EMA200 Bitcoin Cash would be under pressure to test this week’s low at the $401.00 level.

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