Stellar and Bitcoin Cash: Bitcoin Cash flies above $320.00

Stellar Chart Analysis

This morning, the price of Stellar surged to a new weekly high at the $0.12726188 level. Yesterday’s picture was quite unstable, as after a constant bullish trend, we saw a strong bearish impulse and a drop from $0.12500000 to $0.11421597. The stay at that level was brief, and we quickly recovered above $0.11900000. The price stabilized there and initiated a bullish consolidation to this morning’s high.

Since then, we have been moving sideways in the $0.12500000-0.12750000 range. We remain close to the previous high and expect a breakthrough above and the formation of a new one. Potentially higher targets are the $0.12800000 and $0.12900000 levels. With a retreat below the $0.12500000 level, the price falls under bearish pressure and heads towards support levels. Potential lower targets are the $0.12400000 and $0.12300000 levels.

Bitcoin Cash Chart Analysis

The price of Bitcoin Cash surged to the $323.58 level this morning. There, we formed a new weekly high and started to retract from that level. We received the first support at the $310.00 level and are currently successfully holding above it. If we manage to stay above, we have good support to return above the $320.00 level and test the previous high. Potential higher targets are the $325.00 and $330.00 levels.

A decline in the price of Bitcoin Cash below $310.00 could trigger a deeper pullback. First, we would fall to the $300.00 level, thus erasing the previous bullish impulse. There, we enter yesterday’s support zone of $295.00-$300.00. A breakthrough below confirms that the price is losing ground and that bearish momentum is taking control. Potential lower targets are the $290.00 and $285.00 levels.

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