- Last night, Solana price retreated to $138.55, a new weekly low.
- Cardano's new weekly low price formed last night at the level 0.336
Solana Chart Analysis
Last night, Solana price retreated to $138.55, a new weekly low. We will be under bearish pressure until early this week after failing to break above $160.00. The price quickly finds new support at the new low and returns above $140.00. Today we were able to rise to $143.00, but for now we do not have the momentum to continue above it. This led to a slight pullback to new support at $141.00.
If this support is sufficient, Solana could begin a bullish consolidation. The highest potential targets are the $144.00 and $146.00 levels. For a bearish option, we need a negative consolidation below the $140.00 level. With that step, we descend to test the weekly low and confirm the bearish pressure. Solana's inability to hold there will increase the momentum to continue towards the bearish side. The possible lower targets are the $138.00 and $136.00 levels.
Cardano Chart Analysis
The new weekly low Cardano price was formed last night at the level 0.336. After that, the price stopped further retracement and started to recover. This morning we saw bullish consolidation and a return to the 0.350 level. Today's trend seems stable and we can expect more progress on the bullish side. The highest potential targets are the 0.355 and 0.360 levels.
At 0.355, we find support at the 50 EMA for a continuation of the bullish side. For a bearish option, we need a negative consolidation and a return of Cardano below the 0.340 level. With that move, we return to last night's support zone. This time, we need a break below for further bearish consolidation. The lowest possible targets are the 0.335 and 0.330 levels.
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