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Solana and Cardano: Solana is rising above the 22.00 level

Solana and Cardano: Solana is rising above the 22.00 level

The price of Solana yesterday formed a new two-month high at the 22.86 level. Today’s Cardana price consolidation took place above the 0.2860 level.

Solana chart analysis

The price of Solana yesterday formed a new two-month high at the 22.86 level. After which, we see a bearish consolidation and a pullback to support at the 21.50 level. At that level, we get new support and form a higher low. The price once again manages to consolidate and climb above the 22.00 level. If this consolidation continues, we could revisit 22.50, the previous resistance level. Potential higher targets are 23.00 and 23.50 levels.

We need a negative consolidation and a new pullback to support a bearish option at the 21.50 level. A break below would likely take us down to the 21.00 support level. Additional support in that zone is in the EMA50 moving average. Potential lower targets are 20.50 and 20.00 levels.

Cardano chart analysis

Today’s Cardana price consolidation took place above the 0.2860 level. In the previous hour, we see a bullish impulse that takes the price up to the 0.2890 level and above the EMA50 moving average. It is desirable to hold above the 0.2880 level to continue on the bullish side. With a new bullish impulse, we could start a further recovery. Potential higher targets are 0.2900 and 0.2920 levels.

For a bearish option, we need a negative consolidation and price pullback to support at the 0.2860 level. Then we need to see a breakout below in order to continue the pullback. Potential lower targets are 0.2840 and 0.2820 levels.

The post Solana and Cardano: Solana is rising above the 22.00 level appeared first on FinanceBrokerage.

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