Solana and Cardano: Cardano falls below the 0.3200 level

Solana chart analysis

The price of Solana manages to consolidate at the 18.50 level. In the last few hours, we have seen a bullish consolidation and a jump above the 19.00 level. We are now at the 19.12 level and expect to see a continuation of the recovery. Potential higher targets are 19.50 and 20.00 levels.

We have additional resistance at the 20.00 level in the EMA50 moving average, and we would need a break above to continue the recovery and visit last week’s high. We need a negative consolidation and a drop below the 18.50 level for a bearish option. We would again be in a situation to test the 18.25 low, and with a break below, we would form a new low. Potential lower targets are 18.00 and 17.50 levels.

Cardano chart analysis

The price of Cardano this morning fell below the previous support at the 0.3200 level. A new June low was formed at the 0.3127 level. Currently, the price has slightly recovered to the 0.3155 level but remains under bearish pressure. For a more specific recovery, we need to return above the 0.3200 level.

After that, we need to stay above that so that we can start the continuation of the recovery with a new impulse. Potential higher targets are 0.3250 and 0.3300 levels. For the bearish option, we need a continuation of the negative consolidation and a drop below this morning’s low. Potential lower targets are 0.3100 and 0.3050 levels.

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