- This morning we see how the Solana price finds support at the 70.00 level and begins a bullish continuation.
- Cardano price has risen to a new high at the 0.680 level.
Solana Chart Analysis
This morning we see how the Solana price finds support at the 70.00 level and begins a bullish continuation. We are currently at 72.50 and are now taking a short break here before continuing up. We expect to see a bounce back above the 73.00 level soon and we are parked there. It is important that a new bottom be formed there. After that, we can start conquering higher levels. The highest potential targets are the 74.00 and 75.00 levels.
We need a negative consolidation and a pullback below the 70.00 support level for a bullish option. Pressure in that area would lead to further price retracement and a test of the EMA50 moving average in the area around the 69.00 level. A further decline below would only increase the pressure, and possible lower targets are the 68.00 and 67.00 levels.
Cardano Chart Analysis
Cardano price has risen to a new high at the 0.680 level. The new high for this year has formed and we now see a pullback to the support at the 0.640 level. If we fail to stay above that level, a pullback and the formation of a new daily low will occur. The lowest possible targets are the 0.620 and 0.600 levels. The EMA50 is even lower, around the 0.560 level.
We would have to go back and test the 0.680 level to see a bullish option. A break above would mean that Cardano price has the strength and determination to initiate further growth to a new high. The highest potential targets are the 0.700 and 0.720 levels. This would create a new price high this year and strengthen the bullish option.
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