Solana and Cardano: Cardano dropped to the 0.2950 level
Today, we see a drop in the price of Solana to last week’s support zone.
The price of Cardana fell this morning to the 0.2950 level, forming a new lower low.
Solana analysis chart
Today, we see a drop in the price of Solana to last week’s support zone. Today’s low is 22.90, where we got support and moved up to 23.50 level. We have resistance there now, and the price is starting a new pullback to the 23.40 level.
It would be desirable if we could see growth up to the 24.00 level. Then, we need to stay there in order to start the continuation of the recovery with the new bullish consolidation. Potential higher targets are 24.50 and 25.00 levels.
Additional resistance in the zone around 25.00 levels is in the EMA50 moving average. We need a negative consolidation and a new pullback below the 23.00 level for a bearish option. After that, we could expect to see the formation of a new low as confirmation of the bearish continuation. Potential lower targets are 22.50 and 22.00 levels.
Cardano chart analysis
The price of Cardana fell this morning to the 0.2950 level, forming a new lower low. We saw a quick consolidation and a move back above the 0.3000 level. The price continues to recover to the 0.3060 level. For now, we have resistance and stop there.
We need a break above to continue the bullish option. Potential higher targets are 0.3080 and 0.3100 levels. Additional resistance at the 0.3100 level is the EMA50 moving average.
We need a negative consolidation and price pullback below the 0.3000 level for a bearish option. After that, the price would again be under pressure to continue falling until the next support. Potential lower targets are 0.2980 and 0.2960 levels.
The post Solana and Cardano: Cardano dropped to the 0.2950 level appeared first on FinanceBrokerage.