Solana and Cardano: Cardano is approaching the 0.3000 level
- The price of Solana has continued with bullish consolidation since June 10.
- The price of Cardano continues the previous bullish consolidation today.
Solana chart analysis
The price of Solana has continued with bullish consolidation since June 10. Range from lower low from 14.11 to higher high at 20.01, June 30. On July 1, the price made a pullback to the 18.00 level, after which we consolidated at that level, and the price started a new bullish recovery. Solana quickly bounced back above the 19.00 level, and we are currently managing to consolidate above.
For a bullish option, we need a continuation of positive consolidation and price stabilization above the 19.50 level. After that, we would be close to testing the 20.00 resistance level. A break above would mean forming a new high and possibly continuing to the bullish side. Potential higher targets are 20.50 and 21.00 levels.
We need a negative consolidation pullback to the 18.00 level for a bearish option. There we would also test the EMA50 moving average as support. A break below would increase the bearish pressure and push the price of Solana to lower levels. Potential lower targets are 17.50 and 17.00 levels.
Cardano chart analysis
The price of Cardano continues the previous bullish consolidation today. Jutso saw a pullback to the 0.2930 level, where we received new support and started to continue the recovery. We could expect to see a break above the 0.3000 level soon. Then we need to hold ourselves up there before we move on. Potential higher targets are 0.3050 and 0.3100 levels.
On the downside, in the zone around the 0.2900 level, additional support is provided by the EMA 50 moving average. A drop in the Cardano price below it could bring continued volatility and a further pullback to lower support levels. Potential lower targets are 0.2850 and 0.2800 levels.
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