Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

Solana and Cardano: Cardano was below 0.600 yesterday

Solana and Cardano: Cardano was below 0.600 yesterday

Last night, we saw the price of Solana drop to the $110.00 level. 
Cardano’s price slipped yesterday from 0.780 to 0.589, losing almost 25% of its value in just a few hours. 

Solana chart analysis

Last night, we saw the price of Solana drop to the $110.00 level. Just a few hours before, it was $143.00, forming a new one-year high. From there, we started a quick pullback, falling to last night’s low. Then, with the new support, we started the recovery and stabilized above the $120.00 level first. We formed a bottom at that level and started a bullish consolidation up to the $135.00 level.

That is today’s high for us, and we are holding below it for now. There was a small immediate pullback to the support level at $130.00, which we expect to hold us. With the new momentum, we will quickly move above $135.00 and form a new daily high. Potential higher targets are the $137.50 and $140.00 levels.

Cardano chart analysis

Cardano’s price slipped yesterday from 0.780 to 0.589, losing almost 25% of its value in just a few hours. With luck, we get support at that level and start a bullish consolidation, rising to the 0.700 level. Moving above, we get additional support from the EMA200 moving average. This positively affects the growth and movement up to the 0.760 level. There, we make a daily high and retreat slightly to support at the 0.725 level.

From here, we can expect to see a new bullish impulse and trigger a recovery. Potential higher targets are the 0.770 and 0.780 levels. For a bearish option, we need a price pullback to the 0.700 level. There, we retest the EMA200 moving average. The breakout below confirms that the price of Cardano has no strength to recover and that we expect a pullback, not lower. Potential lower targets are the 0.680 and 0.660 levels.

The post Solana and Cardano: Cardano was below 0.600 yesterday appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 realinvestmentstar.com