Solana and Cardano: Cardano climbs to the 0.270 level
The price of Solana rose this morning to the 22.00 level. The price of Cardano rose to the 0.270 level this morning.Solana chart analysis
The price of Solana rose this morning to the 22.00 level. This level coincided with the EMA50 moving average, which puts additional pressure on the price of Solana. From that level, we have a pullback to the 21.70 level, where we find support and try to start a new bullish trend. By breaking above 22.00, we would take the first step towards continuing to the bullish side. Potential higher targets are 22.50 and 23.00 levels.
We need a negative consolidation and pullback below the 21.00 support level for a bearish option. After that, we can expect the price of Solana to start a further retreat, looking for new support. Potential lower targets are 20.50 and 20.00 levels.
Cardano chart analysis
The price of Cardano rose to the 0.270 level this morning. There, we encounter resistance and see a pullback to the 0.265 level. We get support at that level and start a new bullish consolidation. There is additional price pressure in the EMA50 moving average, which is in the zone around 0.270 levels, and we need a break above if we want to see a continuation to the bullish side. Potential higher targets are 0.275 and 0.280 levels.
We need a negative consolidation and pullback to the 0.2600 support level for a bearish option. Failure to hold there will see the price drop below and continue to the bearish side. Potential lower targets are the 0.255 and 0.250 levels.
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