Solana and Cardano: Cardano climbs up to the 0.3300 level
- The price of Solana has been in bullish consolidation for a couple of days.
- The price of Cardano jumped to the 0.3300 level this morning.
Solana chart analysis
The price of Solana has been in bullish consolidation for a couple of days. After gaining support at the 25.00 level, the EMA50 moving average of Solana also starts a bullish consolidation and climbs to the current level at 27.30. The bullish impulse is strong enough to push us to the 28.00 level. Then we would be very close to testing first the 29.00 and maybe the 30.00 level.
We need a negative consolidation and pullback to the 26.00 level for a bearish option. First, we would come across the EMA50 moving average as possible support. A fall below it brings us back to the 25.00 level, and increased bearish pressure could push us even lower. Potential lower targets are 24.00 and 23.00 levels.
Cardano chart analysis
The price of Cardano jumped to the 0.3300 level this morning. We encountered resistance at that level, and the price initiated a pullback. We are currently at the 0.3250 level and could go down to the 0.3200 level. A further drop below takes us to the 0.3150 level, where we encounter the EMA50 moving average.
If we fail to win his support, the price will continue to fall. Potential lower targets are 0.3100 and 0.3050 levels. We need a positive consolidation and a move to 0.3300 of the previous high for a bullish option. A breakout above would do us good. Then, we need to keep up there before we start the recovery process with a new impulse. Potential higher targets are 0.3350 and 0.3400 levels.
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