- Yesterday we saw the formation of a new monthly high price for Solane at the level 33.90.
- Today, Cardano price jumped to a new three-month high at 0.298.
Solana Chart Analysis
Yesterday we saw the formation of a new monthly high price for Solane at the level 33.90. After that, the price starts to retrace, gaining support at the 32.00 level. We saw another recovery attempt, but it stopped at the 33.00 level. After that, we started a new pullback and now we are again close to the 32.00 level. Fresh momentum could lead to a break below and the formation of today’s new low. The lowest possible targets are the 31.00 and 30.00 levels.
Solana could receive additional price support at the EMA50 moving average at the 29.00 level. We need positive consolidation and momentum above the 33.00 level for a bullish call. Then we would have to defend ourselves up there. We could continue to the bullish side after forming that bottom at that level. The highest potential targets are the 34.00 and 35.00 levels.
Cardano Chart Analysis
Today, Cardano price jumped to a new three-month high at 0.298. The price stops at that point and retreats to the 0.292 level. We could say that we are testing the support at the 0.290 level. If we manage to stay above that support, price growth is the expected sequence of events. The highest possible targets are the 0.300 and 0.305 levels.
We need a negative consolidation and a pullback below the 0.290 support level for a bearish option. This would lead to a drop below today’s support line and the formation of a new low. It would also increase pressure on the price to continue its decline to lower levels. The lowest possible targets are the 0.285 and 0.280 levels. The moving average EMA50 is in the area around the level 0.270.
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