Solana and Cardano: Cardano stops at the 0.260 level
The price of Solana continues its retreat today, dropping to the 23.00 level. Yesterday’s Cardano price recovery was stopped this morning at the 0.260 level.Solana chart analysis
The price of Solana continues its retreat today, dropping to the 23.00 level. If the current consolidation continues, we could expect to see a test of yesterday’s support at the 22.50 level. A break below would form a new low and thus confirm the bearish scenario. Potential lower targets are 22.00 and 21.50 levels. Additional support for Solana could be found in the EMA50 moving average at the 22.00 level.
We need a positive consolidation and a price jump to the 24.00 level for a bullish option first. Then, it is necessary to hold up there, and form a new bottom at that level. After that, we could expect to see further recovery and growth at higher levels. Potential higher targets are 24.50 and 25.00 levels.
Cardano chart analysis
Yesterday’s Cardano price recovery was stopped this morning at the 0.260 level. After that, we see a bearish consolidation and pullback to the 0.256 level. At that level, we encounter support in the EMA50 moving average, which could stop further retreat. A break below would mean that we have lost support and continue with a further decline to lower levels. Potential lower targets are the 0.252 and 0.250 levels.
We need a positive consolidation price growth above the 0.262 level for a bullish option. Then we need to try to keep up there. With a new impulse, we would start the continuation of the Cardano price recovery. Potential higher targets are 0.264 and 0.266 levels. This week’s high price was at the 0.270 level.
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