Stellar and Bitcoin Cash: Stellar advances above 0.087000
On Friday, the price of Bitcoin Cash retreated to a new yearly low at the $288.01 level.
Stellar chart analysis
The price of Stellar fell to the 0.076829 level on Friday, forming a yearly low there. The last time we were there was in June last year. The price managed to gain support there and initiate a bullish consolidation to the 0.090870 level. We were briefly above the EMA 200 moving average. The bearish consolidation started on Sunday pushed the price down to a new low at the 0.080000 level on Monday morning.
Stellar stabilized at that level and started a recovery again. We are back above the weekly open price, which gave us the strength to initiate a bullish consolidation to the 0.087500 level. Here, we meet the EMA 200 moving average and need an impulse above to move to the positive side. Potential higher targets are 0.08900 and 0.090000 levels.
Bitcoin Cash chart analysis
On Friday, the price of Bitcoin Cash retreated to a new yearly low at the $288.01 level. After that, the further decline stopped, and the price managed to consolidate and start a recovery. On Saturday, we climbed to the $340.00 level. We encountered resistance there and the price had to pull back to new support at $300.00 on Monday morning. It formed a higher low compared to last week, which is a positive sign for Bitcoin Cash.
After a short stay there, we returned above the weekly open price and continued the bullish consolidation. We are now at $337.00 and close to testing the previous high. Here, we encounter the EMA 200 moving average and hope that Bitcoin Cash will have enough strength to move above it. Potential higher targets are the $350.00 and $360.00 levels.
