- This morning we saw a bullish surge in Solana price reaching 103.50.
- Cardano price continues to decline, falling to the 0.518 level this morning.
Solana chart analysis
This morning we saw a bullish surge in Solana price reaching 103.50. Thus a new high price was formed for this week. We stop there and start pulling back to the 100.00 level. The pressure is now in that area, which could have a negative impact on further movement. Possible lower targets are 99.00 and 98.00 levels. In the area around the 98.00 level, we faced the EMA200 moving average, which provided us with support yesterday.
We would have to move above 101.00 to get a bullish option. Then we have to hang in there in order to move towards the 102.00 level. In the 102.00-103.00 area, we are facing a 2-day resistance area, and we need to break above it to start further recovery. Possible higher targets are 104.00 and 105.00 levels.
Cardano chart analysis
Cardano price continues to decline, falling to the 0.518 level this morning. After that we saw an attempt to start a recovery, but it stopped at the 0.525 level. From this level, the price begins a new decline and exerts new pressure on this morning's low. A break below could easily occur, as well as a new low being formed for this week. Possible lower targets are 0.515 and 0510 levels.
We would have to go back above the 0.520 level to get a bullish option. Next, let's hold at the top and wait for an impulse wave to occur that will lead to a bullish consolidation. Possible higher targets are 0.535 and 0.540 levels. Additional resistance in the area around 0.540 levels is the 200 EMA, which we failed to clear this week.
