- Last night we saw Solana price drop to the $110.00 level.
- Cardano's price fell yesterday from 0.780 to 0.589, losing nearly 25% of its value within a few hours.
Solana chart analysis
Last night we saw Solana price drop to the $110.00 level. Just a few hours ago, the price was at $143.00, forming a new one-year high. From there, we began a rapid decline, falling to the lowest level recorded last night. Then, with new support, we started to recover and settled above the $120.00 level first. We formed a bottom at this level and started an upward consolidation until the $135.00 level.
This is the high for us today, and we are holding below it at the moment. There was a small immediate pullback to the support level at $130.00, which we expect it to hold. With the new momentum, we will quickly move above the $135.00 level and form a new daily high. Possible higher targets are $137.50 and $140.00 levels.
Cardano chart analysis
Cardano's price fell yesterday from 0.780 to 0.589, losing nearly 25% of its value within a few hours. With luck, we found support at this level and began a bullish consolidation, rising to the 0.700 level. By moving above, we get additional support from the EMA200 moving average. This positively affects growth and upward movement to the 0.760 level. There, we make a daily high and pull back a bit to support the 0.725 level.
From here, we can expect to see a new upward wave and stimulate recovery. Possible higher targets are 0.770 and 0.780 levels. For the bearish option, we need the price to fall back to the 0.700 level. There, we retest the EMA200 moving average. The breakout below confirms that Cardano price does not have the strength to recover and that we expect a pullback, not a lower one. Possible downside targets are 0.680 and 0.660 levels.
