Solana and Cardano: Solana is trying to stay above $180.00
The price of Solana is slowly moving away from this week’s high, falling to the $180.00 level last night. The Cardano price fell to a weekly low yesterday at the 0.630 level.Solana chart analysis
The price of Solana is slowly moving away from this week’s high, falling to the $180.00 level last night. We managed to stay above that level and climb above the EMA200 moving average. Since then, we have been moving sideways in the $181.00-$188.00 range. We are now near $187.00 and have moved above the EMA50 moving average. We can hope for a new bullish impulse that would move us above $188.00.
Potential higher targets are $190.00 and $192.00 levels. After that, the Solana price would have more space, and it would be easier to start a bullish recovery. We need a negative consolidation and a new pullback below the EMA200 and $180.00 level for a bearish option. Thus, we return to the bearish side again, pushing us to a new weekly low. Potential lower targets are $178.00 and $176.00 levels.
Cardano chart analysis
The Cardano price fell to a weekly low yesterday at the 0.630 level. After that we get support there and start a recovery to the bullish side. The first bullish consolidation took us up to the 0.660 level. We remain below that level and make a pullback to 0.635. The price forms a higher low and thus confirms the beginning of a new bullish consolidation. We are back above the 0.650 level and above the EMA200 moving average.
Now, we need to hold above here in order to initiate a further recovery to the bullish side. Potential higher targets are 0.660 and 0.665 levels. We need an inactive consolidation below the EMA200 and 0.650 levels for the bearish option. After that we are looking at the 0.635 support level. If it does not hold, the next important level is 0.630, the weekly low. Potential lower targets are 0625 and 0.620 levels.
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