The price of Stellar continues its bearish trend, forming a new weekly low today at the 0.104000 level. We are still in the pressure zone to slide to a new low. Yesterday we had a bullish consolidation that was stopped at the 0.10700 level. Additional resistance at that level was in the EMA200 moving average. We failed to move above, and a pullback to today’s low followed.
Potential lower targets are the 0.103500 and 0.103000 levels. We need a positive consolidation and a return above the weekly open price of 0.105080 for a bullish option. With this, we return to the positive side and strengthen the bullish momentum. Potential higher targets are 0.106000 and 0.107000 levels.
On Friday, Bitcoin cash retreated to the $446.98 level. After that, we quickly stabilized in that zone and started the recovery. On Saturday, we get support at the $454.00 level and rise to the $466.00. New volatility on Sunday, but this time, we only go down to the $454.00 support level. Monday brings a new bullish consolidation up to $470.00 and the EMA200 moving average. Today, we again managed to make a step above to $472.00 to the weekly high.
We hope to continue this positive consolidation and climb to higher levels. Potential higher targets are $474.00 and $476.00 levels. We need a negative consolidation and pullback down to the $460.00 level for a bearish option. With that, we attack this morning’s support zone. The impulse below will form a new one and confirm a continuation to the bearish side. Potential lower targets are $458.00 and $456.00 levels.
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