Stellar and Bitcoin Cash: Bitcoin Cash close to $530.00
On Monday, the price of Stellar demonstrated its resilience by finding support at the 0.105000 level.
The price of Bitcoin Cash climbed to the $529.75 level this morning, forming a new weekly high.
Stellar chart analysis
On Monday, the price of Stellar demonstrated its resilience by finding support at the 0.105000 level. This was followed by a bullish consolidation, and with a couple of strong impulses, we swiftly climbed above the 0.110000 level. Subsequently, the price soared to a new weekly high at the 0.113612 level. We pause here and witness a pullback to support at the 0.111580 level. Stellar once again finds support, showcasing its strength, and initiates a recovery to the 0.113000 level.
Potential higher targets are 0.114000 and 0.115000 levels. The price must return to the previous support level for a bearish option. A new impulse below will form a new daily low and thus confirm the bearish presence. Potential lower targets are 0.111000 and 0.110000 levels.
Bitcoin Cash chart analysis
The price of Bitcoin Cash climbed to the $529.75 level this morning, forming a new weekly high. After that, the price takes a step down to support at the $510.00 level. We remain above that level and recover slightly to $520.00. Now we need to hold on here, in order to start a new positive consolidation and start further recovery. Potential higher targets are $530.00 and $540.00 levels.
For the bearish option, Stellar price must first retest the $510.00 support level. If it fails to hold above that level, we will see a drop below to a new daily low. Thus, the price confirms the bearish momentum, which will only intensify the pullback and the search for new support. Potential lower targets are $500.00 and $490.00 levels.
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