Solana and Cardano: Cardano is holding above the 0.243 level
The price of Solana remains under pressure below the EMA50 moving average. Cardano’s price is moving steadily in a sideways consolidation in the 0.243-0.247 range.Solana chart analysis
The price of Solana remains under pressure below the EMA50 moving average. In yesterday’s attempt, we stopped at the 19.40 level, from which the bearish consolidation to the 18.73 level was initiated. Today, we are climbing again to 19.40, again encountering resistance in that zone and retreating to the 19.10 level.
It could easily happen that we see a breakout below and a continuation to the previous support zone. Potential lower targets are 18.90 and 18.80 levels. We need a positive consolidation and a break above the 19.40 level for a bullish option. Thus, we would climb above the EMA50 moving average and gain its support. Potential higher targets are 19.50 and 19.60 levels.
Cardano chart analysis
Cardano’s price is moving steadily in a sideways consolidation in the 0.243-0.247 range. We have been in this sideways channel for seven days now. The only change on the chart is that we are approaching the EMA50 moving average. It could have the effect of increasing the volatility of Cardano and making the price move more.
For a bullish option, we need a jump above the 0.248 level. That would be the first sign that the price is trying to trigger a bullish option and break free from bearish clutches. Potential higher targets are 0.249 and 0.250 levels. We need a negative consolidation and a drop below the 0.243 support level for a bearish option. After that, we would see the formation of a new low and the confirmation of the bearish option. Potential lower targets are 0.241 and 0.240 levels.
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