Solana and Cardano: Cardano is looking for support at 0,260
- The price of Solana continues to pressurize at the 20.20 level.
- Cardano price continues its sideways consolidation this week as well.
Solana chart analysis
The price of Solana continues to pressurize at the 20.20 level. We are back in the support zone again after yesterday’s jump to the 20.75 level. We are now on our way to the 20.00 level, where we could get more serious support. Last week, the price of Solana fell to 19.29 levels at one point. If today’s consolidation continues, we could be in a position to revisit that support zone.
We need a positive consolidation and price return to the 20.75 level for a bullish option. We have additional resistance to the bullish option in the EMA50 moving average in the zone around 21.75 levels. After that, we need to stay there and start the recovery with a new impulse. Potential higher targets are 21.00 and 21.50 levels.
Cardano chart analysis
Cardano price continues its sideways consolidation this week as well. This morning, we saw a price jump to the 2.68 level, where we met resistance and started a pullback to the 2.60 level. We are now very close to the support zone based on the previous move. A break below this zone would further strengthen the bearish pressure and form a new lower low. Potential lower targets are the 0.255 and 0.250 levels.
We need a positive consolidation and a return to the previous resistance zone around the 2.68 level for a bullish option. Then, we need a break above to reach the 2.70 level. At the 2.65 level, we get support in the EMA50 moving average, which would positively affect the price of Cardano. Potential higher targets are 0.275 and 0.280 levels.
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