Solana and Cardano: Solana retests 19.20 support level
- The price of Solana retreated to the 19.20 level yesterday and thus found itself in the support zone again.
- Cardano’s price continues to move sideways today.
Solana chart analysis
The price of Solana retreated to the 19.20 level yesterday and thus found itself in the support zone again. From there, we formed a new bullish consolidation and climbed up to the 19.80 level, where we encountered a new resistance. From that level, the price makes a new bearish consolidation and retreats to the 19.50 level. There is a good chance that we will see a further decline and continued retreat of the Solana price. Potential lower targets are 19.20 and 19.00 levels.
We need a positive consolidation and return above the 19.80 level for a bullish option. After that, the next resistance is at the 20.00 level because there, we also encounter the EMA50 moving average. A price break above would mean that we will see further recovery. Potential higher targets are 20.20 and 20.40 levels.
Cardano chart analysis
Cardano’s price continues to move sideways today. On the upside, we remain under pressure at the 0.260 level and the EMA50 moving average. We need a break above both levels to trigger a potential recovery. And possible higher targets are 0.262 and 0.264 levels.
We need a negative consolidation and a price drop to the 0.252 support level for a bearish option. A break below would give us the opportunity to test the support at the 0.250 level again. Failure to hold above will make another breakout lower, which would lead to the formation of a new lower low. Potential lower targets are 0.248 and 0.246 levels.
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