- Yesterday, Solana price first fell to the 92.00 level, followed by a jump to the 106.00 level.
- Yesterday we saw a strong upward consolidation in Cardano price which continued today to the 0.595 level.
Solana chart analysis
Yesterday, Solana price first fell to the 92.00 level, followed by a jump to the 106.00 level. We stopped there and started to pull back to the 98.00 level, where we faced the EMA50. Solana receives the required support at the moving average and starts a new bullish consolidation that will pull us to the 104.00 level. We could soon test the previous high and break above it to continue growing to higher levels.
Possible higher targets are 108.00 and 110.00 levels. We need a negative consolidation and a new pullback to 98.00 and EMA50 for a bearish option. A break below indicates further decline in Solana price, and increasing pressure may influence us to visit lower support levels. Possible lower targets are 96.00 and 94.00 levels.
Cardano chart analysis
Yesterday we saw a strong upward consolidation in Cardano price which continued today to the 0.595 level. The high price recorded yesterday was 0.590. After that, we see a decline in support at 0.560. We were able to get support this morning and start an immediate upward consolidation with a target of 0.600. Cardano could test this level soon, and we may also see a break above it and form a new high for the week.
Possible higher targets are 0.610 and 0.620 levels. For the bearish option, we need negative consolidation and a drop to support at 0.560. Then we will be under pressure to continue to decline. At 0.550, we face the EMA50 moving average. If we do not get support there as well, Cardano price will be under a lot of pressure to continue its decline. Possible downside targets are 0.540 and 0.530 levels.
