Economy 13-06-2024 12:19 7 Views

Stellar goes sideways; Bitcoin Cash drops back to $445.00

Stellar chart analysis

Stellar goes sideways; Bitcoin Cash drops back to $445.00

  • On Tuesday, the Stellar price dropped to 0.095253, forming a new weekly low. 
  • The price of Bitcoin Cash is in a new pullback from last night’s $467.00 level.

Stellar chart analysis

On Tuesday, the Stellar price dropped to 0.095253, forming a new weekly low. With this support, a recovery to the 0.101000 level was launched yesterday. Here, we encountered the EMA50 moving average, and this is where the previous bullish trend was stopped. The price loses momentum and turns to the bearish side. We are now at the 0.098850 level and have pressure from the EMA50 moving average to continue the pullback.

Potential lower targets are 0.098000 and 0.096000 levels. We need a positive consolidation and a new retracement above the 0.101000 level for a bullish option. There we hope for EMA200 moving average support for the continued bullish side. Potential higher targets are 0.102000 and 0.104000 levels.

Stellar chart analysis

 

Bitcoin Cash chart analysis

The price of Bitcoin Cash is in a new pullback from last night’s $467.00 level. In that zone, we encountered the EMA200 moving average and did not have the strength to move above it. This led us to see a drop in price to the $443.00 support level this morning. Now, we are still in that zone under intense pressure. We expect a bearish impulse that will push us to a new daily low.

Potential lower targets are $440.00 and $430.00 levels. For a bullish option, we need a positive consolidation and movement of the price of Bitcoin Cash to the $455.00 level. There we get support from the EMA50 moving average and hope for a continuation to the bullish side. Potential higher targets are $460.00 and $470.00 levels.

Bitcoin Cash chart analysis

 

The post Stellar goes sideways; Bitcoin Cash drops back to $445.00 appeared first on FinanceBrokerage.

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