- Solana price is retreating from last week’s high at the 68.18 level.
- Yesterday we saw Cardano price rise to the 0.400 level.
Solana Chart Analysis
Solana price is retreating from last week’s high at the 68.18 level. Over the weekend, we saw a recovery to the 62.00 level. There we find new resistance and form a lower high. After that, we start a new pullback and fall to the $55.00 support level. We stopped here and recovered to the 57.00 level.
In this area, we find potential resistance at the EMA50 moving average and need a break above to continue to the bullish side. The highest potential targets are the 58.00 and 59.00 levels. We need a negative consolidation and a fall below the support at the 55.00 level for a bearish option. This would lead to the formation of a new low and, therefore, we would obtain confirmation of the bearish option. The lowest possible targets are the 54.00 and 53.00 levels.
Cardano Chart Analysis
Yesterday we saw Cardano price rise to the 0.400 level. The jump stopped there, a bearish consolidation followed and the price fell to the 0.380 support level. We managed to get support at that level and start a recovery to the 0.390 level. This is our resistance today and we need a break above if we want to see a continuation of the recovery to the bullish side. The highest potential targets are the 0.395 and 0.400 levels.
We need a negative consolidation and a fall below the 0.380 support level for a bearish option. This leads to the formation of a new weekly low and confirms bearish dominance. The possible lower targets are the 0.375 and 0.370 levels. Additional support for Cardano price could be found at the EMA50 moving average in the area around the 0.375 level.
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