- The star rose to the 0.159100 level on Monday.
- Over the weekend, there was a significant rise in the price of Bitcoin Cash from $307.00 to $530.66.
Star chart analysis
The star rose to the 0.159100 level on Monday. We held there briefly as a pullback to the 0.141000 level occurred this morning. With the new support, we start a new recovery and return to the 0.149500 level. We are close to moving above the 0.150000 level and continuing the previous uptrend. A jump to 0.155000 will bring us closer to testing the previous high, and we may see a new top forming.
Possible higher targets are 0.160000 and 0.162500 levels. The price will be pushed back if we fail to move above the 0.150000 level. The first support is located at the 0.145000 level. If it doesn't hold, we will drop to 0.140000 and form a daily low there. This confirms our bearish option. Possible lower targets are 0.137500 and 0.135000 levels.
Bitcoin cash chart analysis
Over the weekend, there was a significant rise in the price of Bitcoin Cash from $307.00 to $530.66. In just over 24 hours, the price jumped by more than 65%. After forming this rally, we started a bounce that continues today. This morning, we formed a three-day low at $431.39. The price is under pressure below the $450.00 level and the EMA50. This may further affect the continued decline to lower levels.
Possible lower targets are the $420.00 and $400.00 levels. We can expect stronger support at $390.00, where we face the EMA200 moving average. If Bitcoin Cash can consolidate at the current level, it could move above the $450.00 level with momentum. This creates a potential rebound to the upside. Possible higher targets are the $460.00 and $480.00 levels.
