- Solana price is slowly moving away from last year's high of 125.97.
- 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 were able to jump to the 117.00 level. We stopped there and started withdrawing. Yesterday we fell below the 100.00 level and stopped at the 85.50 support level. The bearish impulse was short-lived, and we recovered to the 96.00 level. Since then, we have been moving in the range of 96.00-102.00.
We are currently close to the bottom level but remain stable within this range. With a breakout below, we can consider a bearish option and form a new daily low. Possible lower targets are 94.00 and 92.00 levels. We need positive consolidation and a breakout above the 102.00 resistance level for a bullish option. After that, the price must stay above to maintain a good position before continuing to the upside. Possible higher targets are 104.00 and 106.00 levels. The EMA50 is in the area around 104.00, and it could be a problem for us.
Cardano chart analysis
Cardano price followed the movement of other cryptocurrencies yesterday. This led to a decline to the 0.500 level from the 0.600 level. We are gaining support and moving above the 0.540 level. After that, the price consolidates a little, and recovers to the 0.570 level. We need this consolidation to continue in order to rise and reduce yesterday's losses. Possible higher targets are the 0.580 and 0.600 levels.
We have additional pressure in the area around the 0.600 level of the EMA50. We need a negative consolidation and a drop to the 0.540 support level to achieve a bearish scenario. A slip below it intensifies the downward pressure and affects further pullback and testing of lower support levels. Possible lower targets are 0.520 and 0.500 levels.