Connect with us

Hi, what are you looking for?

Economy

Solana and Cardano: Cardano under bearish pressure this week

Solana и Cardano: Solana восстанавливается до $178,00

Solana and Cardano: Cardano under bearish pressure this week

  • Yesterday, the price of Solana retreated to $175.35.
  • The price of Cardano has been under pressure since the beginning of this week, and it has failed to rise above the previous high.

Solana chart analysis

Yesterday, the price of Solana retreated to $175.35. After Monday’s jump to $193.98, the price lost momentum and started a decline that was halted last night. We then managed to start a new bullish consolidation from there, and today, we climbed to the $184.50 level. Solana is again above the EMA 200 moving average, which reinforces the bullish option.

It’s important to note that we have potential higher targets at the $186.00 and $188.00 levels, which should instill confidence. However, we need to be mindful of bearish consolidation, a price drop below the EMA 200 moving average, and $178.00 for a bearish option. We are nearing the test of the daily low before continuing the pullback to a new lower low. Potential lower targets are $176.00 and $174.00 levels.

Solana chart analysis

Cardano chart analysis

The price of Cardano has been under pressure since the beginning of this week, and it has failed to rise above the previous high. A three-day bearish consolidation brought the price down to 0.394 levels last night. After that, we saw a limited attempt to recover to the 0.405 level. We failed to move above the weekly open price, and Litecoin was forced to start a new pullback. It is now at the 0.400 level and on its way to visit the previous low.

Potential lower targets are 0.395 and 0.390 levels. For a bullish option, the price of Litecoin must initiate a bullish consolidation. By returning above the weekly open price, we get the support of the EMA 50 moving average to continue on the bullish side. Potential higher targets are 0.410 and 0.415 levels.

Cardano chart analysis

The post Solana and Cardano: Cardano under bearish pressure this week appeared first on FinanceBrokerage.

You May Also Like

Economy

How can Forex crash? Forex market crash history Fact that the Forex is one of the most volatile and most profitable markets in the...

Editor's Pick

As decentralized naming systems gain traction, Ethereum Name Service has seen ENS price double, leaving some FOMO investors asking is it too late to...

Editor's Pick

Colorado-based pastor Eligio “Eli” Regalado and his wife, Kaitlyn, are facing legal action after allegedly defrauding investors of millions of dollars through the sale...

Stock

Enthusiasm is needed to drive an uptrend, but sometimes enthusiasm can go too far. That is why technical analysts like to use various sentiment...

Disclaimer: happyretirementstories.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 happyretirementstories.com