Solana and Cardano: Solana remains stable above 15.00
- The price of Solana continues its previous lateral consolidation today.
- The price of Cardana remains in a bullish consolidation for the fifth day in a row.
Solana chart analysis
The price of Solana continues its previous lateral consolidation today. We are currently at the 15.20 level in the middle of this week’s sideways movement. Looking at the previous 24 hours, we see a slightly bullish trend from 14.50 to the current level. Based on that, the price could climb up to 15.50 and possibly test the high at 16.00.
A little above that level at 16.50, we come across the EMA50, and we could expect the next major resistance and price hold there. We need a negative consolidation and price pullback to the 14.50 level for a bearish option. A break below would lead to an increase in bearish pressure, and thus we would see a further decline to lower support. Potential lower targets are 14.00 and 13.50 levels.
Cardano chart analysis
The price of Cardana remains in a bullish consolidation for the fifth day in a row. Today we are moving in the 0.2700-0.2750 range. We need positive consolidation to move above the 0.2800 level. Then we need to stay up there so that we can start to continue the recovery. Potential higher targets are 0.2900 and 0.3000 levels.
We need a price drop to the 0.2600 level for a bearish option. Thus, we would form a new lower low than the previous low at the 0.2700 level. This could pull the price further down, and potential lower targets are the 0.2500 and 0.2400 levels.
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