- Last night we saw Solana price pull back to the $100.15 support level.
- Wednesday brought us a new low in Cardano price to the 0.574 level.
Solana chart analysis
Last night we saw Solana price pull back to the $100.15 support level. We have successfully tested the $100.00 price and started a new ongoing positive consolidation today. We had a small breakout at $105.00, but on the second attempt, we were able to move above and up to the $107.10 level. We expect to see a continuation of this trend and move up to $108.00 and the EMA200.
If the price can break through these two hurdles, it will have a good chance of starting a stronger recovery. Possible higher targets are $109.00 and $110.00 levels. For a bearish option, we need the price to drop below $105.00 first. There, the pressure on the price will actually start to continue further down. Possible lower targets are $104.00 and $102.00 levels.
Cardano chart analysis
Wednesday brought us a new low in Cardano price to the 0.574 level. Fortunately, the decline stopped there, and the price started an upward consolidation and rose to the 0.595 level. We had the first resistance there, but we made a break to the upside and jumped to the 0.608 level for a fresh attempt. We now also have support at the EMA200 moving average. We expect to see further growth, and possible higher targets are the 0.610 and 0.615 levels.
We need to break below the 200 moving average and the 0.595 level to get a bearish option. A move below increases the pressure on Cardano to continue its decline. This brings us back to testing the support area around the 0.580 level again. Possible downside targets are 0.575 and 0.570 levels.
