- Star price managed to bounce back above the EMA200 yesterday and released the bearish pressure.
- Last week, Bitcoin Cash price returned above the $700.00 level after a long period.
Star chart analysis
Star price managed to bounce back above the EMA200 yesterday and released the bearish pressure. A new high was formed at 0.134442. We then saw the price pull back and retest the EMA200 at the 0.131000 level. We got new support and started consolidating upwards, returning to the 0.134000 level. We need another upward wave to break the previous high and form a new high.
Possible higher targets are 0.135000 and 0.136000 levels. We need negative consolidation and a drop below the 200 SMA for a bearish option. Thus, we return to the downward trend and test the support level 0.130000. If this price does not hold, we will go lower to test the support levels seen last week. Possible lower targets are the 0.129000 and 0.128000 levels.
Bitcoin cash chart analysis
Last week, Bitcoin Cash price returned above the $700.00 level after a long period. On Friday, a high was formed at $719.43. Over the weekend, we saw consolidation in the $680.00 – $710.00 range. Yesterday, we tried to break through the upper level of this rank, but we were unsuccessful. The price started a bearish consolidation, breaking below the $680.00 support level today and falling to the $655.00 level.
At this level, we face the EMA200 moving average, which does not allow us to move below. We now need a bounce above $685.00 to return to the previous range and get support from the EMA50. After that we can expect a new growth above the $700.00 level and a new test of the upper resistance at $710.00. Possible higher targets are the $715.00 and $720.00 levels.
