Connect with us

Hi, what are you looking for?

Economy

Solana and Cardano: Solana is rising above the 22.00 level

Solana

Solana and Cardano: Solana is rising above the 22.00 level

  • The price of Solana yesterday formed a new two-month high at the 22.86 level.
  • Today’s Cardana price consolidation took place above the 0.2860 level.

Solana chart analysis

The price of Solana yesterday formed a new two-month high at the 22.86 level. After which, we see a bearish consolidation and a pullback to support at the 21.50 level. At that level, we get new support and form a higher low. The price once again manages to consolidate and climb above the 22.00 level. If this consolidation continues, we could revisit 22.50, the previous resistance level. Potential higher targets are 23.00 and 23.50 levels.

We need a negative consolidation and a new pullback to support a bearish option at the 21.50 level. A break below would likely take us down to the 21.00 support level. Additional support in that zone is in the EMA50 moving average. Potential lower targets are 20.50 and 20.00 levels.

Solana chart analysis

Cardano chart analysis

Today’s Cardana price consolidation took place above the 0.2860 level. In the previous hour, we see a bullish impulse that takes the price up to the 0.2890 level and above the EMA50 moving average. It is desirable to hold above the 0.2880 level to continue on the bullish side. With a new bullish impulse, we could start a further recovery. Potential higher targets are 0.2900 and 0.2920 levels.

For a bearish option, we need a negative consolidation and price pullback to support at the 0.2860 level. Then we need to see a breakout below in order to continue the pullback. Potential lower targets are 0.2840 and 0.2820 levels.

Cardano chart analysis

The post Solana and Cardano: Solana is rising above the 22.00 level appeared first on FinanceBrokerage.

You May Also Like

Trading Secrets

On this week’s edition of Trading Simplified, Dave continues to show his methodology in action with a new mystery chart. In his “Mind the...

Trading Secrets

Wall Street sold off dramatically on Friday after the jobs report. While the economy is stagnating, many investors are concerned that the Fed will...

Trading Secrets

In this special presentation from StockCharts TV‘s The MEM Edge, Mary Ellen highlights the unique characteristics of a new bull market, along with the...

Investing

Everyone is curious to know how the stock market will react to the debt ceiling deal announcement that happened over the weekend. Republicans and...