Solana and Cardano: Cardano falls below the 0.3400 level

Solana chart analysis

Solana’s price continues to struggle with support around the 20.00 level. Yesterday we saw an attempt to recover the price, which was stopped at the 20.60 level. Since then, we have been retreating, and today, the price has fallen to 19.60 levels. If we do not get support soon, Solana could slide lower and form a new lower low.

Potential lower targets are 19.40 and 19.20 levels. We need a positive consolidation and a return above the 20.00 level for a bullish option. Then we need a new bullish impulse that would push the price to a new level and start a recovery. Potential higher targets are 20.20 and 20.40 levels.

Cardano chart analysis

The price of Cardana continues to fall and forms a new lower low at the 0.3340 level. Yesterday’s recovery was stopped at the 0.3550 level, and from there, we started the pullback. The price soon broke the previous support at the 0.3450 level and continued to fall. We are now at the 0.3370 level, and we could expect to see a drop to the 0.3300 level.

We need a new positive consolidation and a price return above the 0.3500 level for a bullish option. Then we also need to hold on up there in order to wait for the bullish impulse and the continuation of the recovery. Potential higher targets are 0.3600 and 0.3700 levels.

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