- Solana price is slowly moving away from last year's high of 125.97.
- The Cardano price followed the movement of other cryptocurrencies yesterday.
Solana Chart Analysis
Solana price is slowly moving away from last year's high of 125.97. This week we managed to jump to the 117.00 level. We stopped there and began a retreat. Yesterday we fell below the 100.00 level and stopped at the 85.50 support level. The bearish momentum was short-lived and we recovered to the 96.00 level. Since then, we have been moving in the 96.00-102.00 range.
We are currently close to the lower level, but we remain stable within this range. With a break below, we can think about a bearish option and the formation of a new daily low. The lowest possible targets are the 94.00 and 92.00 levels. We need a positive consolidation and a break above the 102.00 resistance level for a bullish call. So, the price would have to stay above to maintain a good position before continuing towards the bullish side. The highest potential targets are the 104.00 and 106.00 levels. The EMA50 moving average is in the 104.00 area and could be a problem for us.
Cardano Chart Analysis
The Cardano price followed the movement of other cryptocurrencies yesterday. This led to a pullback to the 0.500 level from the 0.600 level. We are gaining support and breaking above the 0.540 level. After that, the price consolidates slightly, recovering to the 0.570 level. We need a continuation of this consolidation to be able to move up and reduce yesterday's losses. The highest potential targets are the 0.580 and 0.600 levels.
We have additional pressure in the area around the 0.600 level at the EMA50 moving average. We need a negative consolidation and a drop to the 0.540 support level for a bearish scenario. Falling below it intensifies bearish pressure and affects further pullback and testing of lower support levels. The lowest possible targets are the 0.520 and 0.500 levels.
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