- Yesterday we saw a pullback in Solana price from the 24.40 level to 23.20.
- Cardano price continues this week’s pullback, forming a new low at the 0.239 level.
Solana Chart Analysis
Yesterday we saw a pullback in Solana price from the 24.40 level to 23.20. At that level, the price receives support and begins a bullish consolidation until the 23.90 level. We now expect to see a continuation of the bullish consolidation and a break above the 24.00 level.
If we can break above, we would have good momentum to continue towards the resistance zone before that area, around the 24.40 level. The highest potential targets are the 24.60 and 24.80 levels.
We need a negative consolidation and a pullback towards this morning’s support at the 23.20 level for a bearish option. A break below could take us to the 23:00 level. Additional support in this area lies at the EMA50 moving average. If we do not have the ability to hold above, a break below and the formation of a new lower low will occur. The lowest possible targets are the levels 22.80 and 22.60.
Cardano Chart Analysis
Cardano price continues this week’s pullback, forming a new low at the 0.239 level. We find support down there and see a bullish recovery to the 0.243 level. For now we have resistance in that area and the price is pulling back towards 0.241, putting pressure on the 0.240 level. A fresh break below would influence the formation of a lower low and thus confirm the bearish side. The lowest possible targets are the 0.238 and 0.237 levels.
We need a positive consolidation and a jump to the 0.245 level for a bullish option. With such a move, we would move away from the unpleasant zone and it would be easier for us to move to the bullish side. The highest potential targets are the 0.246 and 0.247 levels. We will have additional resistance in the area around the 0.247 level at the EMA50 moving average.
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