- This morning, Solana fell to a new weekly low of $137.55.
- Last night, Cardano price fell to a new weekly low at the 0.334 level.
Solana Chart Analysis
This morning, Solana fell to a new weekly low of $137.55. After that, the price finds support at that level and recovers to the $140.00 level. We need stronger momentum to continue this small bullish consolidation. At $142.00, we will try to break above the 50 EMA and get its support. If Solana succeeds in this, it will increase bullish momentum for the continuation of further recovery.
The highest potential targets are the $144.00 and $146.00 levels. We will have an additional hurdle at the 200 EMA around the $144.00 level. For a bearish option, Solana needs to start a new bearish consolidation below $138.00, which is this morning's support level. With that step, we approach a new weekly low and strengthen the bearish momentum. The possible lower targets are the $136.00 and $134.00 levels.
Cardano Chart Analysis
Last night, Cardano price fell to a new weekly low at the 0.334 level. After forming a new price low, it managed to stabilize and start a recovery. The daily high was formed at the level of 0.342. We have a slight bullish consolidation and can expect to continue on the bullish side. If the price rises to 0.345, it will receive support from the 50 EMA moving average.
Optimism for a further bullish recovery grows with new support. The highest potential targets are the 0.350 and 0.355 levels. We expect additional major resistance at the 0.355 zone at the 200 EMA. For a bearish option, we need a negative consolidation and a pullback of Cardano price below the 0.335 level. This will take us to a new weekly low and confirm the continuation towards the bearish side. The lowest possible targets are the 0.330 and 0.325 levels.
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