Solana and Cardano: Cardano is holding at the 0.3050
The price of Solana managed to return above the 23.00 level yesterday afternoon. This morning, we saw Cardano jump to the 0.3100 level.Solana chart analysis
The price of Solana managed to return above the 23.00 level yesterday afternoon. This was followed by a bullish consolidation and a jump to the 24.20 level. There, we encounter resistance, and Solana starts a pullback, now up to the 23.50 level. Increased pressure at this level could make a breakout below and send us to the previous support zone. Potential lower targets are 23.20 and 23.00 levels.
We need a positive consolidation and a move above the 23.80 level for a bullish option. Then, we need to try to stay up there and start a further price recovery with a new impulse. Potential higher targets are 24.00, 24.20 and 24.40 levels. Additional resistance awaits us at the 24.40 level in the EMA50 moving average.
Cardano chart analysis
This morning, we saw Cardano jump to the 0.3100 level. The growth has stopped there, and the price is starting to retreat. Additional pressure in that zone is the EMA50 moving average, and the price dropped to 0.3050.
We are currently receiving support here and could expect another positive consolidation and a return above the 0.3100 level. After that, we would have to try to hold above in order to trigger a further recovery with the next impulse. Potential higher targets are 0.3150 and 0.3200 levels.
We need a negative consolidation and a break below the support at the 0.3050 level for a bearish option. After that, we can expect the price to slide down to 0.3000 and try to find new support there. Potential lower targets are 0.2950 and 0.2900 levels.
The post Solana and Cardano: Cardano is holding at the 0.3050 appeared first on FinanceBrokerage.
