Solana and Cardano: $92.44 new low this week for Solana
- Yesterday’s attempt to recover the price of Solana was stopped at the $102.70 level.
- The price of Cardano continues its bearish trend after Tuesday’s jump to the 0.536 level.
Solana chart analysis
Yesterday’s attempt to recover the price of Solana was stopped at the $102.70 level. After that, the price began to pull back, dropping to $92.44 this morning. The downside is that we have fallen below the EMA200 moving average, which could make it difficult for the price to recover. The price successfully stops the fall to $92.44, starts a bullish consolidation, and recovers to $96.20.
We are back to the EMA200 and hope to see a break above, which would facilitate a trip to the bullish side. Potential higher targets are the $98.00 and $100.00 levels. For a bearish option, we need negative consolidation and a new test of this morning’s support at $92.00. Potential lower targets are $90.00 and $88.00 levels.
Cardano chart analysis
The price of Cardano continues its bearish trend after Tuesday’s jump to the 0.536 level. Yesterday, we saw an attempt to return to the bearish side, but the consolidation was stopped at the 0.520 level. Forming a price lower high, we are starting a pullback that brings us down to the 0.486 level this morning. Cardano successfully finds support at that level and recovers to the 0.495 level.
Price may soon retest the 0.500 level and the EMA200 moving average. If we manage to break above, potential higher targets are 0.510 and 0.520. For the bearish option, we need a continuation of the previous consolidation and testing of the morning support level. A price drop below forms a new low and confirms bearish momentum. Potential lower targets are 0.480 and 0.470 levels.
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