- Solana's price is declining after its jump yesterday to $106.45.
- Cardano price has been in a bearish consolidation mode since yesterday.
Solana chart analysis
Solana's price is declining after its jump yesterday to $106.45. There was saturation in that area, and the price starts falling to 98.70. After that, we rise to the support level at $100.00. We managed to stay above this level this morning. In the last few hours, there has been increasing pressure on Solana price, and we see a break down and a drop to the $99.10 level. The price is under a lot of pressure to continue falling further, and potential lower targets are the $98.00 and $96.00 levels.
Additional support is in the area around $96.00 at the EMA200. We would have to get back above the $100.00 level to get a bullish option. By moving above the price, it releases downward pressure and has the opportunity to initiate a bullish consolidation. Possible higher targets are $104.00 and $106.00 levels.
Cardano chart analysis
Cardano price has been in a bearish consolidation mode since yesterday. The price fell back to the 0.500 level, where it is now testing the EMA200 moving average. It is possible that we get new support here and start consolidating upwards. If this does not happen, we will see a decline below the price and it is possible that it will test the level from the beginning of this week at 0.490. Possible lower targets are 0.480 and 0.470 levels.
We need a positive reinforcement and a move to the 0.510 level for a bullish option. This way, we will start to recover and move away from the EMA200. The pressure on the price will decrease, and the recovery can proceed more easily. Possible higher targets are 0.520 and 0.530 levels.
