Solana and Cardano: Solana’s price progress is stable
- The price of Solana rose to a new two-week high today at the $163.84 level.
- Today’s Cardano price movement takes place in the 0.440-0.450 range.
Solana chart analysis
The price of Solana rose to a new two-week high today at the $163.84 level. Strong bullish momentum is keeping us high, and we could see a rise to a new higher high. Potential higher targets are the $165.00 and $167.50 levels. By returning to these levels, the price would return to the movement zone from the beginning of June.
For a bearish option, we need a negative consolidation and a pullback of the Solana price below the $160.00 level. We would have fallen below the previous movement zone. The price would form a new daily low, confirming that it is under pressure. The first support is at $157.50 at the EMA 50 moving average. The inability to hold here will strengthen the bearish trend, and the potential lower targets are the $155.00 and $152.50 levels.
Cardano chart analysis
Today’s Cardano price movement takes place in the 0.440-0.450 range. We are currently seeing consolidation around the upper level of this range, which could initiate an impulse above to a new daily high. This week’s high is at 0.455; we may test it soon. Potential higher targets are the 0.460 and 0.465 levels.
For a bearish option, we need a negative consolidation and a return to the 0.440 level. The EMA 50 moving average provides additional support in that zone. Cardano’s price break below will form a new daily low. After that, the price will be under more pressure to continue retreating further. Potential lower targets are the 0.435 and 0.430 levels. It is possible that we will find support in the weekly open price zone around the 0.430 level.
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