Solana and Cardano: Cardano falls below the 0.3200 level
The price of Solana manages to consolidate at the 18.50 level. In the last few hours, we have seen a bullish consolidation and a jump above the 19.00 level.
The price of Cardano this morning fell below the previous support at the 0.3200 level.
Solana chart analysis
The price of Solana manages to consolidate at the 18.50 level. In the last few hours, we have seen a bullish consolidation and a jump above the 19.00 level. We are now at the 19.12 level and expect to see a continuation of the recovery. Potential higher targets are 19.50 and 20.00 levels.
We have additional resistance at the 20.00 level in the EMA50 moving average, and we would need a break above to continue the recovery and visit last week’s high. We need a negative consolidation and a drop below the 18.50 level for a bearish option. We would again be in a situation to test the 18.25 low, and with a break below, we would form a new low. Potential lower targets are 18.00 and 17.50 levels.
Cardano chart analysis
The price of Cardano this morning fell below the previous support at the 0.3200 level. A new June low was formed at the 0.3127 level. Currently, the price has slightly recovered to the 0.3155 level but remains under bearish pressure. For a more specific recovery, we need to return above the 0.3200 level.
After that, we need to stay above that so that we can start the continuation of the recovery with a new impulse. Potential higher targets are 0.3250 and 0.3300 levels. For the bearish option, we need a continuation of the negative consolidation and a drop below this morning’s low. Potential lower targets are 0.3100 and 0.3050 levels.
The post Solana and Cardano: Cardano falls below the 0.3200 level appeared first on FinanceBrokerage.
