Stellar and Bitcoin Cash: Stellar retreated below 0.108000

Stellar chart analysis

Stellar price is in bearish consolidation from yesterday’s high at 0.111505 level. This morning, we saw a break below the EMA200, which only increased the pressure on the price, bringing it down to the 0.107340 level. Since then, there has been no significant progress and the price is sitting at the 0.107850 level. We remain under pressure and are more likely to see momentum below to a new weekly low. 

Potential lower targets are 0.107000 and 0.106500 levels. If the price of Stellar manages to initiate a recovery above the 0.109000 level, it returns to the positive side, returning above the weekly open price. After that, the price will be close to the EMA200 moving average in the 0.109500 zone. Potential higher targets are 0.110000 and 0.110500 levels.

Bitcoin Cash chart analysis

Yesterday, we saw the Bitcoin Cash price jump to $503.14. Shortly after, the price begins to pull back to the $484.00 support level. At that level, we tested the weekly open price but did not manage to stay above it. Additional pressure is created by the EMA200 moving average, and the price breaks below and slides all the way to the $461.00 support level.  

For now, we remain above that level and need a move above $470.00 to release some of the bearish pressure. After that, it is possible that we will see the initiation of a bullish consolidation. Potential higher targets are $472.50 and $475.00 levels. We need a negative consolidation and pullback down to the $460.00 level for a bearish option. With such a step, the price will form a new lower low and confirm the continuation to the bearish side.

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