Solana and Cardano: Cardano slides to the 0.275 level
- The price of Solana has been in a bearish trend since yesterday, from 25.39 to 23.20 this morning.
- Cardano’s price fell to the 0.275 support level yesterday.
Solana chart analysis
The price of Solana has been in a bearish trend since yesterday, from 25.39 to 23.20 this morning. The price is currently managing to hold above this low and is recovering to the 23.50 level. We need a continuation of the positive consolidation and a move above the 23.60 level. Thus, we would initiate a bullish option, and we could then expect to see further recovery. Potential higher targets are 23.80 and 24.00 levels.
We need a negative consolidation and a new test of the 23.20 support level for a bearish option. Falling below it opens up space for us to reach lower levels than the previous week. Potential lower targets are 23.00 and 22.80 levels.
Cardano chart analysis
Cardano’s price fell to the 0.275 support level yesterday. We are currently at the same level of support, and the price of Cardano remains under pressure. A breakout below and the formation of a new lower low could easily occur. Potential lower targets are 0.270 and 0.265 levels.
For a bullish option, we need a positive consolidation and a return of the Cardano above the 0.285 level. Then, it is necessary to stay above it so that with the next impulse, we can jump into further recovery and return to the previous movement zone. Potential higher targets are 0.290 and 0.295 levels. Cardano’s price could face additional resistance at 0.290 in the EMA50 moving average.
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