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Solana and Cardano: Solana is back above the 20.00 level

Solana

Solana and Cardano: Solana is back above the 20.00 level

  • Yesterday, Solana’s price retreated to the $18.50 level, thus testing the EMA50 moving average.
  • Cardano pulled back to the 0.2800 support level yesterday, after which we see a bullish consolidation and the start of a recovery.

Solana chart analysis

Yesterday, Solana’s price retreated to the $18.50 level, thus testing the EMA50 moving average. We received his support and started a new bullish consolidation. We climbed above the 19.00 level very quickly, and the new impulse took us up to the 20.00 level. Today’s high price is the 20.32 level, while we are currently looking for support at the 20.00 level.

We need a positive consolidation and a move to the 20.50 level for a bullish option. Then we need to hold up there before moving on to the bullish side. Potential higher targets are 21.00 and 21.50 levels.

We need a negative consolidation and pullback to the previous 19.50 support level for a bearish option. A break below could lead us to lower levels. Potential lower targets are 19.00 and 18.50 levels, with support in the EMA50 moving average.

Solana chart analysis

Cardano chart analysis

Cardano pulled back to the 0.2800 support level yesterday, after which we see a bullish consolidation and the start of a recovery. We are now above the 0.2900 level and trying to hold there. The EMA50 moving average provides additional support; as long as we are above it, we can expect further recovery.

Potential higher targets are 0.2950 and 0.3000 levels. We need a negative consolidation and a drop to the 0.2800 support zone for a bearish option. A break below would have a negative impact on further price movement, sending it to lower support levels. Potential lower targets are 0.2750 and 0.2700 levels. Even down there, we are in a bullish channel starting June 10.

Cardano chart analysis

The post Solana and Cardano: Solana is back above the 20.00 level appeared first on FinanceBrokerage.

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