- Solana price failed to reach the $160.0 level yesterday.
- Cardano price fell to a new weekly low this morning at the 0.437 level.
Solana Chart Analysis
Solana price failed to reach the $160.0 level yesterday. It stopped at $159.18, followed by bearish consolidation and a drop to $145.00. We will try to get support from the EMA200 moving average here and if we fail, a continuation towards the bearish side will follow. The possible lower targets are the $140.00 and $135.00 levels.
For a bullish option, we need EMA200 support and to stay above the $145.00 level. If we achieve this, we can expect to see the start of positive consolidation and the release of bearish pressure. With a performance above $150.00, we also get support from the EMA50 moving average, which further supports the bullish option. The highest potential targets are the $152.50 and $155.00 levels.
Cardano Chart Analysis
Cardano price fell to a new weekly low this morning at the 0.437 level. Since then, we have not moved much and are hovering around the 0.440 level. Bearish pressure is still present and we can expect a drop to a new daily low. The lowest possible targets are the 0.435 and 0.430 levels. Last week's Cardana price low was at the level of 0.418.
For a bullish option, we need positive consolidation and stabilization above the 0.445 level to begin with. After that, we will form a bottom there and from there we can expect a continuation towards the bullish side. The highest potential targets are the 0.450 and 0.455 levels. Additional higher Cardano price resistance could be found at the EMA200 and the 0.455 zone. If we rise above 0.460, we return to the positive side moving above the weekly opening price.
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