Solana and Cardano: Solana slides towards the 19.00 level
Today we see a pullback in the Solana price to the 19.10 level. The price of Cardana is in a slight bearish consolidation.Solana chart analysis
Today we see a pullback in the Solana price to the 19.10 level. The pressure is now at that level, and the picture tells us that we could see a breakout below it and a further pullback. Potential lower targets are 19.00 and 18.50 levels. The price could receive additional support at the 18.50 level because we encounter the EMA50 moving average there, which could stop the decline of the Solana price.
We need a positive consolidation and a return above the 19.50 level for a bullish option. Then we also need to maintain ourselves above in order to stabilize ourselves there. With a new bullish impulse, we could start a further recovery and visit the previous high. Potential higher targets are 20.00 and 20.50 levels.
Cardano chart analysis
The price of Cardana is in a slight bearish consolidation. Today’s bullish option resistance is the 0.2950 level, and we need a break above if we want to see a continuation. If we were to return above the 0.2950 level, Cardano would have a new opportunity to reach the 0.3000 level. Potential higher targets are the 0.3050 and 0.3100 levels.
We need a negative consolidation and price pullback to the 0.2900 level for a bearish option. Additional price support at that level is in the EMA50 moving average. A drop below would worsen the picture, and the price could slide to lower support levels. Potential lower targets are 0.2850 and 0.2800 levels. Even if we go down to the 0.2800 level, the price is still in a bullish trend because no new lower low has been formed.
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