- Today we see a nice bullish consolidation of Solana price up to 61.81.
- Cardano price successfully moved above the EMA50 moving average yesterday.
Solana Chart Analysis
Today we see a nice bullish consolidation of Solana price up to 61.81. We stop at that level and begin a pullback below the 61.00 level. We are now looking at the 60.00 level as potential support to stop this pullback. If we achieve this, we will be in a good position for further recovery. The highest potential targets are the 62.00 and 63.00 levels.
We need a negative consolidation and a drop to the 59.00 level for a bearish option. There we would test the position of the previous bullish breakout. A further decline below that level would drag us back to the previous consolidation at 57.50-59.00.
Failure to rise again would result in a drop below and the formation of a new low. The lowest possible targets are the 57.00 and 56.00 levels. We could get additional support at the EMA50 moving average in the area around the 57.00 level.
Cardano Chart Analysis
Cardano price successfully moved above the EMA50 moving average yesterday. This led to the formation of a two-day price high at the level of 0.389. For now we have resistance in that area and we are pulling back towards the 0.384 level. We are again very close to testing the EMA50 moving average at the 0.382 level. If we can get support at that level, we could start a new positive consolidation and break above the 0.390 level.
The highest potential targets are the 0.392 and 0.394 levels. We need a drop below the EMA50 moving average for a bearish option. After that, we could form a bottom at the 0.380 level. That would be our first sign that Cardano does not have the strength to recover and that we will see a pullback to lower levels. The lowest possible targets are the 0.378 and 0.376 levels.
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