- Solana price rose to $89.59 this morning, forming a three-day high there.
- Cardano price moved sideways in the range of 0.465-0.480 in the past two days.
Solana chart analysis
Solana price rose to $89.59 this morning, forming a three-day high there. The price stopped there, and additional pressure in that area created the EMA200 moving average. We then see a pullback to $87.00, forming a daily low. We are now holding higher but moving towards the $89.00 level in a limited range. We need a stronger push that would take us to the $90.00 level and above the 200 EMA. Possible higher targets are the $91.00 and $92.00 levels.
For the bearish option, we need to form a new low under $87.00. This would give us confirmation of the downward momentum to start further decline. The next potential support area is located around the $86.00 level. A break below would increase pressure on the price and push it lower. Possible lower targets are the $85.00 and $84.00 levels.
Cardano chart analysis
Cardano price moved sideways in the range of 0.465-0.480 in the past two days. We cannot break the 0.480 level and continue the recovery. We need a positive consolidation that would move the price above the resistance area and thus form a new three-day high. Possible higher targets are 0.490 and 0.500 levels. The EMA200 moving average is located in the area around 0.500 levels.
We need to pull back to support the bearish option at the 0.465 level. New pressure could easily lead to a break below and form a new low. This confirms the bearish option, and we expect to see a continuation of the decline to lower levels. Possible downside targets are 0.460 and 0.450 levels.
