Connect with us

Hi, what are you looking for?

Trading Secrets

Solana and Cardano: Cardano is holding above 0.2800

Solana and Cardano: Cardano is holding above 0.2800

The price of Solana continues to recover, and we climb above the 15.00 level. The price of Cardana is in a bullish trend for the fourth day in a row from 0.2200 to 0.2800 level.

Solana chart analysis

The price of Solana continues to recover, and we climb above the 15.00 level. It would be good if we moved above the 16.00 level; that way we would significantly move out of the unpleasant bearish zone. The price would have more freedom to continue the recovery, and the potential higher targets are the 16.50 and 17.00 levels.

We have additional resistance at the 17.00 level in the EMA50 moving average, and we must also jump over it if we want a longer-term bullish trend. We need a negative consolidation and pullback to the 14.50 level for a bearish option. Down there, we would already be on the way to visit the previous low. Potential lower targets are 14.00 and 13.50 levels.

Cardano chart analysis

The price of Cardana is in a bullish trend for the fourth day in a row from 0.2200 to 0.2800 level. We are now looking at the 0.2900 level as the next target. Above it is the 0.3000 level, where we encounter the EMA50 moving average, which could slow down or even stop further recovery.

We need a negative consolidation and a drop below the 0.2700 level for a bearish option. Thus, we would fall out of the rising channel, which could be interpreted as a bearish signal. The next major support zone is at the 0.2600 level, and we need a break below for a stronger bullish scenario. Potential lower targets are the 0.2500 and 0.2400 levels.

The post Solana and Cardano: Cardano is holding above 0.2800 appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...