Stellar and Bitcoin Cash: Stellar expects support at EMA200
Stellar price managed to bounce back above the EMA200 moving average yesterday and release the bearish pressure. Last week, the price of Bitcoin Cash returned above the $700.00 level after a long time.Stellar chart analysis
Stellar price managed to bounce back above the EMA200 moving average yesterday and release the bearish pressure. A new high was formed at the 0.134442 level. After which we saw a price pullback and a retest of the EMA200 moving average at the 0.131000 level. We get new support and start a bullish consolidation, returning to the 0.134000 level. We need another bullish impulse to break the previous high and form a new one.
Potential higher targets are 0.135000 and 0.136000 levels. We need a negative consolidation and a drop below the EMA200 for a bearish option. With that, we return to the bearish side and test the 0.130000 level of support. If it doesn’t hold, we go even lower to test last week’s support levels. Potential lower targets are the 0.129000 and 0.128000 levels.
Bitcoin Cash chart analysis
Last week, the price of Bitcoin Cash returned above the $700.00 level after a long time. On Friday, a high was formed at the $719.43 level. Over the weekend, we saw consolidation in the $680.00-$710.00 range. Yesterday, we tried to break above the upper level of this rank, but we did not succeed. The price started a bearish consolidation, breaking below the $680.00 support level today and descending to the $655.00 level.
At that level, we encounter the EMA200 moving average, which does not allow us to move below. We now need a retracement above the $685.00 level to return to the previous range and gain support from the EMA50 moving average. After that we can expect a new growth above the $700.00 level and a new testing of the upper resistance at $710.00. Potential higher targets are $715.00 and $720.00 levels.
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