Stellar and Bitcoin Cash: Stellar in pullback below 0.107000
- The price of Stellar is currently falling to a new weekly low at the 0.106251 level.
- This morning, the new weekly low price of Bitcoin Cash was formed at the $443.56 level.
Stellar chart analysis
The price of Stellar is currently falling to a new weekly low at the 0.106251 level. We are under strong bearish pressure since this morning after consolidation at the 0.107000 level. On Tuesday, we had a bullish attempt to move above the EMA200 but failed to do so. We continued to pull back below 0.108000, which brought us to a new weekly low today. We can expect bearish consolidation to continue and the price of Stellar to drop to lower levels.
Potential lower targets are 0.106000 and 0.105000 levels. For a bullish option, the price would have to move above 0.108000 to get the first support at the EMA50 moving average. After the consolidation, we also need a new impulse in that area that would trigger further recovery. Potential higher targets are 0.109000 and 0.110000 levels.
Bitcoin Cash chart analysis
This morning, the new weekly low price of Bitcoin Cash was formed at the $443.56 level. After that, we saw a weak attempt to recover to the $156.00 level. There we encounter new resistance and return to the previous support zone. The pressure is now at the weekly low, and a new bearish impulse could easily form a new one. Potential lower targets are $440.00 and $435.00 levels.
We need a positive consolidation and a move above the $455.00 level for a bullish option. Then, we need to maintain ourselves at that level. If we succeed, we could start a new impulse and continue the recovery to the bullish side. Potential higher targets are $460.00 and $465.00 levels. Additional against our recovery is the EMA200 in the zone of $460.00 levels.
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