Stellar and Bitcoin Cash: Stellar breaks above EMA200

Stellar chart analysis

The price of Stellar climbed to the 0.107982 level, forming a new weekly high. Yesterday we had a strong bullish consolidation with the 0.102000 level. After which we climbed above the EMA200 moving average and continued to today’s high. We are now in a minor defensive position, going down to the 0.107065 level testing the daily open price. If we manage to stay above, we will have a new opportunity to attack the previous high and form a new one.

Potential higher targets are 0.108000 and 0.109000 levels. A fall below the daily open price moves us to the negative side, and we can expect a pullback to 0.106000 and the EMA200 moving average. The impossibility to maintain even here will strengthen the bearish momentum and we will continue to fall in search of a new support level. Potential lower targets are 0.105000 and 0.104000 levels.

Bitcoin Cash chart analysis

Last night, Bitcoin Cash climbed to the $468.58 level. After forming a weekly high at that level, a pullback was initiated below the $460.0 level and we are now at $455.00. We are under bearish pressure to start a further pullback until we find better support. Potential lower targets are $450.0 and $445.0 levels.

Additional support at $445.00 is at the EMA200 moving average. If we manage to stabilize and move above $460.00, that would mark our first step towards a potential bullish recovery. This positive outlook could bring a sense of optimism to our audience.

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