- On Saturday we saw an attempt by Solana price to reach the 60.00 level.
- Over the weekend, Cardano price failed to break above the 0.400 level; a price pullback followed the check.
Solana Chart Analysis
On Saturday we saw an attempt by Solana price to reach the 60.00 level. We failed in that intention and the jump stopped at 59.80. From there, the price begins a bearish consolidation, falling below the 57.00 level and the EMA50 moving average on Monday. Last night we saw the formation of this week’s low at the level 53.47. We managed to get support at that level and recover above the 55.00 level.
We need a continuation of the current positive consolidation for a new bullish option. The highest potential targets are the 56.00 and 56.50 levels. Additional resistance at the EMA50 moving average has now fallen to the zone around the 56.50 level. We need a negative consolidation and a pullback below the previous support level of 54.00 for a bearish option. A drop below confirms a bearish presence and the possible lower targets are the 53.50 and 53.00 levels.
Cardano Chart Analysis
Over the weekend, Cardano price failed to break above the 0.400 level; a price pullback followed the check. On Monday we saw a price drop below the 0.380 moving average and EMA50. Today we saw a continuation to the support at the 0.370 level. For now, we managed to stop the decline and recover to the level of 0.375. We need a continuation of the positive consolidation and a return to the level of 0.380 and the EMA50 moving average.
For a more concrete uptrend, a breakout above that resistance zone is needed so that we can continue the Cardano price recovery to higher levels. The highest potential targets are the 0.385 and 0.390 levels. We need a negative consolidation and a price drop below the 0.370 support level for a bearish option. This way we would have the opportunity to form a new low and confirm the bearish option. The lowest possible targets are the 0.365 and 0.360 levels.
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