Solana and Cardano: Solana slipped below the 20.00 level
The price of Solana fell once again below the $20.00 level yesterday all the way to the $19.28 level. The price of Cardano dropped to 0.3467 levels yesterday after the fall of the crypto market.Solana chart analysis
The price of Solana fell once again below the $20.00 level yesterday all the way to the $19.28 level. Then followed a pullback and a recovery to the $20.00 level. Now we are trying to stay above that level to start the recovery. Potential higher targets are the $20.20 and $20.40 levels. And in the zone around $20.80, we encounter the EMA50 moving average, which could increase the pressure at that level.
We need a negative consolidation and a drop to the $19.60 level for a bearish option. After that, we could expect to see further decline and testing of yesterday’s low at the $19.28 level. Below, we cannot rule out a continuation of the pullback to the $19.00 level.
Cardano chart analysis
The price of Cardano dropped to 0.3467 levels yesterday after the fall of the crypto market. After that, the price consolidates at that level and starts a recovery. We are now at the 0.3540 level and expect to see a continuation of the price recovery. It would be desirable to climb above 0.36000 because that way, we would be back in the previous movement channel. Potential higher targets are 0.3650 and 0.3700 levels.
We need a negative consolidation and pullback below the 0.3500 support level for a bearish option. After that, we could expect to see a test of the previous low and possibly a breakout below. Potential lower targets are 0.3450 and 0.3400 levels.
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