- Over the weekend, Solana price jumped above the 105.00 level.
- Cardano price is moving sideways in the range of 0.520-0.540 this week.
Solana chart analysis
Over the weekend, Solana price jumped above the 105.00 level. The jubilation there did not last long as it was followed by a bearish wave and a drop to the 93.00 level last night. The decline stopped there, and Solana slowly recovered to 98.00 levels. We briefly returned above the EMA200 as saturation occurred, and the price retreated to the 96.50 level.
We need another bounce above 98.00 to push us to the upside. Possible higher targets are 99.00 and 100.00 levels. We need to pull back to the previous support at 93.00 to get a bearish option. New pressure in that area could push the price below there and form a new weekly low. This would confirm the downward momentum. Possible lower targets are 92.00 and 91.00 levels.
Cardano chart analysis
Cardano price is moving sideways in the range of 0.520-0.540 this week. The trend today is up because we started from the support level this morning and we are on our way to the upper line of this range. In the area around the 0.545 level, we are facing the EMA200, which has been a drag on the bullish option for four days.
Today we have a new opportunity to try to break above that level and start continuing the uptrend. Possible higher targets are 0.550 and 0.560 levels. We need a negative reinforcement and a pullback to the previous support level for a bearish option. New pressure on that area may affect the likelihood of seeing a dip lower and forming a new low. Therefore, we will return to last week's support area, and possible lower targets are the 0.510 and 0.500 levels.
