Solana Price Analysis: Bouncing Back to Support at $130.00
During the weekend, we saw the Solana price pullback from last week’s high at $137.84. At the beginning of the weekend, the price of Cardano surged above the 0.750 level.Solana chart analysis
During the weekend, we saw the Solana price pullback from last week’s high at $137.84. A new low was formed on Sunday at $124.73. After that, the price started bullish consolation, which is still active today. Yesterday, we saw a rise to the $135.00 level, then a pullback to $128.00, where we formed a new higher low compared to the previous one.
We are starting to recover again today, but we are stopping at the daily high at the $134.00 level. Today’s price movement of Solana takes place in the $130.00-$134.00 range. We remain above the support level in the hope that we have the strength to overcome the upper resistance and climb to a new daily high. Potential higher targets are $135.00 and $136.00 levels.
Cardano chart analysis
At the beginning of the weekend, the price of Cardano surged above the 0.750 level. Subsequently, we witnessed consolidation with a low formed at the 0.687 level. Soon after, we quickly bounced back above the 0.700 level. As Monday commenced, Cardano started to rise, reaching a new high at the 0.800 level.
However, we encountered resistance, initiating a bearish consolidation towards this morning’s support at the 0.740 level. Following this new support, the price increased to 0.780, forming a daily high.
Potential higher targets are the 0.790 and 0.800 levels. We need to see a pullback of the Cardano price below the 0.750 level for the bearish scenario. This would bring us close to forming a new daily low, confirming bearish pressure on the price and expecting a continuation to the downside. Potential lower targets are the 0.740 and 0.730 levels.
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