- Today we look for Solana price to return above the 100.00 level.
- Cardano price fell again this morning to the support area around the 0.525 level.
Solana chart analysis
Today we look for Solana price to return above the 100.00 level. After the price fell on Monday to 93.00, we see a bullish consolidation throughout yesterday and a continuation for today. This morning was the first attempt to move above the 100.00 level. We failed then, and returned to support at 97.00. Additional support in that area is found at the EMA50 moving average. The price starts a new bullish consolidation and takes us to the 102.00 level.
If this trend continues then possible higher targets are 104.00 and 106.00. We need a new negative reinforcement and return to the support area for a bearish option. A drop below it would confirm the bearish momentum to continue the downward trend. Solana price will be in the support area since the beginning of the week. Possible lower targets are 96.00 and 94.00 levels.
Cardano chart analysis
Cardano price fell again this morning to the support area around the 0.525 level. As happened at the beginning of the week, we are receiving support, and the price has recovered to the 0.535 level. We need this positive consolidation to continue to the 0.545 level. In that area, we are facing the EMA200, and we have to break above it to get rid of the downward pressure.
A move above will make it easier to start recovering and moving to higher levels. Possible higher targets are 0.550 and 0.560 levels. For the bearish option, we need to go down and test the support level this week. A breakout of the Cardano price down would lead to the formation of a new low, thus we would receive confirmation of the downtrend. Possible downside targets are 0.520 and 0.510 levels.
