Solana above $180.00, and Cardano again at the 0.500 level
The new weekly high price of Solana was formed this morning at the $188.90 level.
After more than a month, the price of Cardano is back above the 0.5000 level, signalling a potential continuation of its bullish trend.
Solana chart analysis
The new weekly high price of Solana was formed this morning at the $188.90 level. We stop there and initiate a pullback from that level. We are now at the $180.00 support level and trying to stop further pullback. If we fail, the price will be forced to drop even lower. Potential lower targets are $178.00 and $176.00 levels.
It’s important to note that the Solana price has additional support at the $178.00 level, which is the EMA50 moving average. With this support in place, there is a potential for a new positive consolidation, leading to a return to the previous bullish trend. This could potentially drive the price towards higher targets at the $184.00 and $186.00 levels.
Cardano chart analysis
After more than a month, the price of Cardano is back above the 0.5000 level, signalling a potential continuation of its bullish trend. A new high was formed at the 0.511 level. After that, we stop there and pull back slightly to the 0.495 support level. We find support at that level and climb back above the 0.5000 level. If we stay above, we will be in a good position to initiate a continuation of the bullish consolidation, offering hope for further gains.
Potential higher targets are 0.510 and 0.520 levels. We need a negative consolidation and a pullback of the price again below the 0.495 level for a bearish option. With that, we move to a new daily low and get confirmation of bearish momentum. Potential lower targets are 0.490 and 0.480 levels. The EMA50 moving average could be a support for us in the zone of 0.480 levels.
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