Solana and Cardano: Solana remains below 45.00 for now
The price of Solana continued its bullish consolidation yesterday and rose to 44.50.
Cardano’s price pulled back to support at the 0.335 level yesterday.
Solana chart analysis
The price of Solana continued its bullish consolidation yesterday and rose to 44.50. There, the price encounters resistance and makes a retreat to support at the 42.50 level. From that place, we start a recovery and grow to resistance at the 44.00 level.
We see another pullback, and now we are at the 43.20 level. The current bearish pressure could influence the price to drop again to the previous low at 42.50 level. Potential lower targets are 42.00 and 41.50 levels.
The EMA50 moving average is in the zone around 40.50 levels, and as long as we are above it, we expect to see a bullish continuation. For a bullish option, we need a jump above the 44.00 level from the current position.
Then we have to stay there in order to start further recovery. Potential higher targets are 45.00 and 45.50 levels.
Cardano chart analysis
Cardano’s price pulled back to support at the 0.335 level yesterday. From that level, Cardano makes a bullish impulse and jumps to the 0.360 level. After that, we move in a lateral consolidation, maintaining that zone.
We need a continuation of the positive consolidation and a jump to 0.365 to leave this monotonic channel.
This jump should start the price of Cardano to recover to the bullish side. Potential higher targets are 0.370 and 0.375 levels. For a bearish option, we need a negative consolidation and a price drop below the 0.350 level.
That would be the first sign of Cardano’s weakness, leading to a price pullback to lower levels. Potential lower targets are 0.345 and 0.340 levels. The EMA50 moving average is in the zone around 0.335 levels.
The post Solana and Cardano: Solana remains below 45.00 for now appeared first on FinanceBrokerage.
