- Solana price is trading in the range of 40.00-42.50 for the fourth consecutive day.
- Cardano price jumped to the 0.376 level last night, forming a four-month high.
Solana Chart Analysis
Solana price is trading in the range of 40.00-42.50 for the fourth consecutive day. We need to get out of this consolidation to start some trend. We would interpret the jump to the 43.00 level positively if we manage to hold it above the 42.50 level after that.
There we would form a bottom from which we would begin to continue on the bullish side. The highest potential targets are the 44.00 and 45.00 levels. Last week’s Solane price high was at 46.97.
For a bearish option, we need a drop below the 40.00 level. With a pullback below, we would be very close to testing the EMA50 moving average in the area around the 39.00 level. A break below would lead to the formation of a new low, and that would be a confirmation of bearish dominance. The lowest possible targets are the 38.00 and 37.00 levels.
Cardano Chart Analysis
Cardano price jumped to the 0.376 level last night, forming a four-month high. There has been saturation in that area and the price is making a bearish pullback towards the 0.345 level. If this trend continues, the price could easily fall below this week’s low at the 0.340 level.
This would be confirmation for us that we will see a new pullback and the formation of this week’s new low. The lowest possible targets are the 0.330 and 0.320 levels.
Additional support for the price in the area around the 0.330 level is the EMA50 moving average. The previous week we also had a pullback towards the EMA50 and managed to get its support. For a bullish option, we need a positive consolidation and a move to the 0.360 level.
Then, we need to stay up there so we can begin further recovery. The highest potential targets are the 0.370 and 0.380 levels.
ADDITIONAL VIDEO: Weekly summary of market news
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=();t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)(0);s.parentNode.insertBefore(t,s)}(window,document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);fbq(‘init’,’504526293689977′);fbq(‘track’,’PageView’)
