Stellar fell to 0.118444 on Tuesday, what about BTC Cash?
The price of Stellar fell to 0.118444 on Tuesday. This week’s Bitcoin Cash price low was formed on Tuesday at the $340.00 level.Stellar chart analysis
The price of Stellar fell to 0.118444 on Tuesday. After a low at that level formed, a recovery and bullish consolidation were initiated, which continues today. This morning, a two-day high formed at the 0.143500 level, which is our resistance level for now. Since then, we have been moving in the 0.138500-0.1435000 range. Consolidation is slightly bullish, and we expect a new test of the previous high.
Potential higher targets are the 0.145000 and 0.145750 levels. For a bearish option, we need a price pullback to the EMA200 and 0.133800 levels. New pressure on the support zone could easily lead to a drop below and form a new low. Thus, we confirm that we are in a bearish trend and expect a retreat to lower levels. Potential lower targets are the 0.130000 and 0.125750 levels.
Bitcoin Cash chart analysis
This week’s Bitcoin Cash price low was formed on Tuesday at the $340.00 level. From then until today, we are in a bullish consolidation supported by the EMA200 moving average at the $395.00 level. Today’s price high was this morning at the $424.00 level. After that price, it retreats and keeps below the $410.0 level. We need a new, stronger, bullish impulse to break above the $425.00 level. This would form a new daily high and strengthen the bullish position.
Potential higher targets are $430.00 and $440.00 levels. If we fail in that intention, the price turns to the bearish side. Once again we are forced to look for support in the EMA200 and $390.00 level. A drop below increases the pressure on the weakened Bitcoin Cash, and the potential lower targets are the $380.00 and $370.00 levels.
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