Connect with us

Hi, what are you looking for?

Economy

Stellar and Bitcoin Cash: Stellar still in a bearish trend

Stellar and Bitcoin Cash: Stellar still in a bearish trend

A new May low for the price of Stellar was formed yesterday at the 0.100992 level.
The new low price of Bitcoin Cash was yesterday at $421.41 level. 

Stellar chart analysis

A new May low for the price of Stellar was formed yesterday at the 0.100992 level. We attempted to move above the EMA200 on Friday at the 0.109800 level. Strong bearish pressure did not allow us to do that, and the bearish consolidation continued. During the weekend, the price fell below the 0.104700 level. On Monday morning, we hit a new low for May.

After that, there is a consolidation and recovery to the 0.106000 level, where we again encounter bearish pressure. A pullback has been initiated below the 0.103700 level under pressure from the EMA50 moving average. Potential lower targets are 0.102000 and 0.101000 levels. For a bullish option and a return to the positive side, we need to get back above the 0.104730 weekly open price. If we manage to do that, we can hope for a recovery to the bullish side. Potential higher targets are 0.106000 and 0.107000 levels.

Bitcoin Cash chart analysis

The new low price of Bitcoin Cash was yesterday at $421.41 level. Support at that level triggers a bullish consolidation up to the $446.00 level. There, we meet the EMA200 moving average, which stops further progress. After that, we moved in the $440.00-$446.00 range, and then we broke through the lower level and began to pull back below the $430.00 level. Formrian is this morning’s low at the $425.85 level.

We held down briefly, which brought us back above the $434.00 weekly open price. On the upside, pressure is exerted by the EMA50 moving average, directing Bitcoin Cash to the bearish side. Potential lower targets are $430.00 and $428.00 levels. If we hold above the weekly open price and move up to the $438.00 level, we get support from the EMA50 moving average and expect to see further recovery. Potential niche targets are $440.00 and $442.00 levels.

 

The post Stellar and Bitcoin Cash: Stellar still in a bearish trend appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Visitors at embedded world Exhibition & Conference, Nuremberg, to discover how to unleash configurable, customisable, trainable chatbot for business performance improvement. SECO, a global...

    Editor's Pick

    In today’s fast-paced business landscape, compliance with regulations and standards is paramount. Failing to meet these requirements can result in hefty fines, damaged reputations,...

    Editor's Pick

    Internet of Things, or IoT, is no longer just about smart homes and wearable tech, it rather marks a profound new shift in the...

    Stock

    Meme stocks are back. One day after an account associated with the phenomenon posted for the first time in years on the X social...

    Disclaimer: Financetimereport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Financetimereport.com