Solana and Cardano: Cardano goes up to 0.280 yesterday
- Yesterday, we saw a new jump in the price of Solana up to the 22.00 level.
- The price of Cardana jumped to the 0.280 level yesterday and formed a new two-week high there.
Solana chart analysis
Yesterday, we saw a new jump in the price of Solana up to the 22.00 level. There, we encounter resistance, and the price retreats to the 21.50 level. For now, we have support at that level and are trying to stay at that level. A break below would mean a pullback of Solana to the 21.00 level. Additional support in that zone is in the EMA50 moving average.
A break below would add to the bearish pressure and send the price even lower. Potential lower targets are 20.50 and 20.00 levels. For a bullish option, we need a positive consolidation from this position and a jump to the 22.00 level again. Then we need a breakout above and try to hold up there. Potential higher targets are 22.50 and 23.00 levels.
Cardano chart analysis
The price of Cardana jumped to the 0.280 level yesterday and formed a new two-week high there. After that, the price makes a pullback and goes down to 0.265 leva support. We are now moving in that zone, and we could expect to see another bullish consolidation. We need to go back above the 0.270 level and form a new bottom there. From there, we could start further recovery. Potential higher targets are 0.280 and 0.285 levels.
We need a negative consolidation and a break below the 0.265 support level for a bearish option. After that, we could visit the previous low at the 0.260 level. A further drop below would mean the formation of a new low and thereby confirm the bearish continuation. Potential lower targets are the 0.255 and 0.250 levels.
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