Stellar and Bitcoin Cash: Stellar retreats below 0.111000

Stellar chart analysis

Yesterday, we saw Stellar price pull back to the 0.109200 support level. After that, the price gets the required support and briefly recovers to the 0.112000 level. Today’s movement takes place in the 0.110000-0.116000 range. We have support from the EMA50 moving average and expect to see further recovery to the bullish side. A bounce above 0.112000 would do a good job of triggering a recovery. 

Potential higher targets are 0.113000 and 0.114000 levels. We need a negative consolidation and pullback below the 0.110000 level for a bearish option. Below that level, we will form a new daily low and thereby confirm that we are continuing the previous bearish consolidation until today. Potential lower targets are 0.10900 and 0.10800 levels.

Bitcoin Cash Chart Analysis

In the previous two days, the price of Bitcoin Cash was in a bearish consolidation until the support was at the $495.00 level.   After that, we saw a stop there and stabilization until this morning when the price made a bullish impulse and rose to the $516.00 level. For now, we have formed a new daily high there and are pulling back slightly to the $507.00 level. In this zone, we look for support in the EMA50 moving average. 

If we stay above that level, we will see the initiation of a new bullish consolidation and growth to a new high. Potential higher targets are $520.0 and $525.00 levels. We need a negative consolidation below the EMA50 and $506.00 for a bearish option. After that, we turn towards the $500.00 support level. If the bearish momentum strengthens, the price will have to drop below to a new low. Potential lower targets are $495.00 and $490.00 levels.

The post Stellar and Bitcoin Cash: Stellar retreats below 0.111000 appeared first on FinanceBrokerage.