Trading Ideas

Stellar and Bitcoin Cash: Bitcoin Cash retreats to $255.00

Stellar chart analysis

Stellar and Bitcoin Cash: Bitcoin Cash retreats to $255.00

  • The Stellar price stopped at the 0.1213844 level yesterday.
  • Bitcoin Cash’s price is in retreat after yesterday’s failure to move above the $275.00 level.

Stellar chart analysis

The Stellar price stopped at the 0.1213844 level yesterday. We failed to break above, and a pullback to the 0.11400000 level followed. Yesterday, we received support from there, from which we started to grow and recover to the 0.11900000 level. There, we form a lower high and start a pullback from that level today. A strong bearish formation breaks below yesterday’s support and EMA200, forming a new low at the 0.11203685 level.

If we stay longer in this zone, a breakout below and a drop to a new low could occur. Potential lower targets are 0.11200000 and 0.11100000 levels. We need consolidation above the 0.11600000 level and the EMA200 moving average for a bullish option. Only by staying above can we provide a good basis for further growth. Potential higher targets are 0.11700000 and 0.11800000 levels.

Stellar chart anaylsis

Bitcoin Cash chart analysis

Bitcoin Cash’s price is in retreat after yesterday’s failure to move above the $275.00 level. Strong bearish impulses brought down the price to the $255.75 level in just two hours. We then saw a price recovery attempt to $267.00. In that zone, we encountered EMA200, which did not allow us to move above.

It had a negative impact, and we started a new decline to test the support zone. Too much pressure could easily break support and visit lower levels. Potential lower targets are $254.00 and $252.00.

We need a positive consolidation and a return above the $268.00 level for a bullish option. Then, we have to stay up there and form a new bottom; from there, it would be easier for us to start recovery. Potential higher targets are $270.00 and $272.00 levels.

Bitcoin cash chart analysis

The post Stellar and Bitcoin Cash: Bitcoin Cash retreats to $255.00 appeared first on FinanceBrokerage.

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