- Solana price fell below the $80.00 level yesterday, forming a low of $78.14.
- A new low for Cardano price was formed this week at the 0.448 level.
Solana chart analysis
Solana price fell below the $80.00 level yesterday, forming a low of $78.14. We stopped at this level and started the upward consolidation that continues today. First, we saw a rise to $84.00, then a pullback to a higher low of $80.40. A new upward wave pushed the price to the $85.80 level. Thus, we are back above the $85.00 level. The highest price today was $87.34, and the price fell slightly to $86.57.
We need to form a new higher low on the chart to continue Solana's recovery. Possible higher targets are the $88.00 and $90.00 levels. We need a negative consolidation and return to support for the bearish option at $84.00. Falling below this level means that the price is moving towards the downside, and we are looking forward to its decline. Possible lower targets are the $82.00 and $80.00 levels.
Cardano chart analysis
A new low for Cardano price was formed this week at the 0.448 level. This was followed by a bullish consolidation and the price stabilized above the 0.460 level. We rose to the 0.480 level this morning but ran into resistance there, which took us back to the 0.465 support level. From there, we move into a new recovery and approach this morning's high again. This attempt could lead to a breakout higher and the formation of a new breakout. Possible higher targets are 0.490 and 0.500 levels.
In the area around the 0.500 level, we are facing the EMA200, which is a two-week resistance line. A pullback to the 0.460 support level is required for a bearish option. Failure to hold above that will result in a drop below thus confirming the downward momentum on the chart. Possible lower targets are the 0.450 and 0.440 levels.
