- Solana price continues with a strong bullish consolidation to the level 39.80.
- Cardano price is retracing after forming a high yesterday at the 0.305 level.
Solana Chart Analysis
Solana price continues with a strong bullish consolidation to the level 39.80. We are just seeing the formation of Solana’s yearly high price and we are very close to breaking above the 40.00 level. Now we see a pullback towards the 39.00 level and we hope to hold above the 38.00 level to start a new continuation towards the bullish side. The highest potential targets are the 41.00 and 42.00 levels.
For a bearish option, we need a negative consolidation and a fall below the previous support at the 38.00 level. This would create a new low and confirm the bearish pressure on Solana price. This could influence us to start a new pullback and post previous support levels. The lowest possible targets are the 37.00 and 36.00 levels.
Cardano Chart Analysis
Cardano price is retracing after forming a high yesterday at the 0.305 level. This was followed by a bearish consolidation and a price drop to the 0.285 level. We are trying to start a bullish consolidation, but Cardano does not have the strength to do so. We would need to move and hold at the 0.290 level to start. We would also get support from the EMA50 moving average, which could positively influence whether we see the launch of a bullish option.
The highest potential targets are the 0.295 and 0.300 levels. For a bearish option, we need a negative consolidation and a new decline below the 0.285 level. A break below would lead to the formation of a new low. Thus we would have confirmation of the bearish scenario. The lowest possible targets are the 0.280 and 0.275 levels.
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