- Solana's price downtrend last week ended yesterday at 85.46.
- Cardana price fell yesterday to a new low this year at 0.465.
Solana chart analysis
Solana's price downtrend last week ended yesterday at 85.46. The price receives the required support and begins to consolidate upward, returning above the 100.00 level. This morning we saw this week's high forming at 104.00, after which we pulled back to 100.00. Additional downside support is at the EMA50, the pullback has been halted and we are back at higher levels. Possible higher targets are 104.00 and 106.00 levels.
For the bearish option, we need to pull back below the 98.00 level. This is where we will test today's starting price. The price decline pulls us below the EMA50 and thus enhances the downward momentum. With such pressure, the price is likely to give way and start falling. Possible lower targets are 96.00 and 94.00 levels.
Cardano chart analysis
Cardana price fell yesterday to a new low this year at 0.465. After getting support, we see bullish consolidation until 0.542 level. In that area, we encountered resistance at the EMA50, which did not allow us to move above it in the previous attempt. This causes a pullback to the 0.520 support level. Today's consolidation is bearish, and we expect to see a drop to a new low. Possible downside targets are 0.500 and 0.480 levels.
We need to go above 0.560 and the EMA50 to get a bullish option. Therefore, we will form a new daily high and get rid of the downward pressure. Then, we can begin further recovery with greater freedom. Possible higher targets are the 0.580 and 0.600 levels.
