Connect with us

Hi, what are you looking for?

Economy

Solana and Cardano: Cardano falls below the 0.3200 level

Solana and Cardano: Cardano falls below the 0.3200 level

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. The price of Cardano this morning fell below the previous support at 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.

The post Solana and Cardano: Cardano falls below the 0.3200 level appeared first on FinanceBrokerage.

You May Also Like

Economy

BlockSpan ICO: Accelerating NFT Innovation with Confidence The BlockSpan ICO aims to revolutionize the NFT space. To achieve that goal, it will provide an...

Investing

ZIM Integrated (NYSE: ZIM) stock price has crashed hard after the company canceled its dividend as the shipping industry recoils. The shares plunged to...

Investing

IDS share price has suffered a big reversal in the past few days as demand for the stock drops. Shares of Royal Mail’s parent...

Investing

Rolls-Royce (LON: RR) share price has been dead money in the past few days as investors react to the company’s turnaround and recent financial...



Disclaimer: Frequencytraders.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Frequencytraders.com