- Solana price fell below $80.00 yesterday, forming a low at the $78.14 level.
- This week's new low for Cardano price was formed at the 0.448 level.
Solana Chart Analysis
Solana price fell below $80.00 yesterday, forming a low at the $78.14 level. We stopped at that level and began a bullish consolidation that continues today. First, we saw a rise to $84.00, then a pullback to a higher low at the $80.40 level. Fresh bullish momentum pushed the price to $85.80; Therefore, we are back above the $85.00 level. Today's high is $87.34 and the price has retreated slightly to $86.57.
We need the formation of a new higher low on the chart to continue Solana's recovery. The highest potential targets are the $88.00 and $90.00 levels. We need negative consolidation and a return to bearish option support at $84.00. A fall below this level would mean that the price is moving towards the bearish side and we are seeing its pullback. The possible lower targets are the $82.00 and $80.00 levels.
Cardano Chart Analysis
This week's new low for Cardano price was formed at the 0.448 level. This was followed by bullish consolidation and price stabilization above the 0.460 level. This morning we rose to the 0.480 level, but found resistance there, which brought us back to the 0.465 support level. From there, we move into a new recovery and approach this morning's high again. This attempt could bring a breakthrough and the formation of a new one. The highest potential targets are the 0.490 and 0.500 levels.
In the area around the 0.500 level we encounter the EMA200 moving average, our two-week resistance line. A pullback to the support at 0.460 level is required for a bearish option. Failure to hold above would result in a drop below and thus confirm the bearish momentum on the chart. The lowest possible targets are the 0.450 and 0.440 levels.
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