- Solana price is declining after forming a weekly high at $184.63.
- Cardano price has been in an uptrend for four days until last night at 0.617.
Solana chart analysis
Solana price is declining after forming a weekly high at $184.63. We fell below the EMA200 and continued the bearish consolidation today. This brings it down to $173.50, a new weekly low. We are still under downward pressure and expect the downside to continue. Possible lower targets are the $172.00 and $170.00 levels.
We need a negative consolidation and a move above the $180.00 level for a bullish option. This takes us back above the weekly opening price, which takes us to the positive side. Next, we need to move above the EMA200 in order to gain its support. Possible higher targets are $182.00 and $184,000 levels.
Cardano chart analysis
Cardano price has been in an uptrend for four days until last night at 0.617. There, we encounter resistance and start to pull back below the 0.610 level. Increasing downward pressure pushed us below the 0.600 level to a new daily low at 0.595. We were able to get back above 0.600 and the EMA200 to stay above it and start a new positive consolidation.
If not, we will go down again and the possible downside targets are 0.590 and 0.585. A rise to 0.610 will take the first upward step towards recovery. After that we look towards the daily opening price of 0.615. A move above it will only increase the bullish momentum and it may test the high recorded last night. Possible higher targets are 0.620 and 0.625 levels.
