Stellar and Bitcoin Cash: Bitcoin Cash retreats to $255.00

Stellar chart analysis

The Stellar price stopped at the 0.1213844 level yesterday. We failed to break above, and a pullback to the 0.11400000 level followed. Yesterday, we received support from there, from which we started to grow and recover to the 0.11900000 level. There, we form a lower high and start a pullback from that level today. A strong bearish formation breaks below yesterday’s support and EMA200, forming a new low at the 0.11203685 level.

If we stay longer in this zone, a breakout below and a drop to a new low could occur. Potential lower targets are 0.11200000 and 0.11100000 levels. We need consolidation above the 0.11600000 level and the EMA200 moving average for a bullish option. Only by staying above can we provide a good basis for further growth. Potential higher targets are 0.11700000 and 0.11800000 levels.

Bitcoin Cash chart analysis

Bitcoin Cash’s price is in retreat after yesterday’s failure to move above the $275.00 level. Strong bearish impulses brought down the price to the $255.75 level in just two hours. We then saw a price recovery attempt to $267.00. In that zone, we encountered EMA200, which did not allow us to move above.

It had a negative impact, and we started a new decline to test the support zone. Too much pressure could easily break support and visit lower levels. Potential lower targets are $254.00 and $252.00.

We need a positive consolidation and a return above the $268.00 level for a bullish option. Then, we have to stay up there and form a new bottom; from there, it would be easier for us to start recovery. Potential higher targets are $270.00 and $272.00 levels.

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