Connect with us

Hi, what are you looking for?

Trading Secrets

Solana and Cardano: Cardano slipped to 0.2925 today

Solana and Cardano: Cardano slipped to 0.2925 today

The price of Solana retreated this morning to the 22.50 level. The price of Cardana today fell to a new low at the 0.2925 level.

Solana chart analysis

The price of Solana retreated this morning to the 22.50 level. A new lower low was formed compared to the previous week. Now, we see an attempt to consolidate at the 22.70 level. We need a positive consolidation and a return above the 23.00 level in order to initiate a bullish option. Then, we would have to try to hold above the 23.00 level and form a new higher low at that point.

With a new impulse, we could continue with the recovery. Potential higher targets are 23.50 and 24.00 levels. Additional resistance around 24.00 is in the EMA50 moving average. We need a negative consolidation and pullback below the 22.50 level for a bearish option. After that, the price could easily fall to the 22.00 level and form a new lower low there.

Cardano chart analysis

The price of Cardana today fell to a new low at the 0.2925 level. We have received immediate support at that level and see a recovery above the 0.2950 level. We now need a continuation of this positive consolidation in order to move further to the bullish side. Potential higher targets are 0.2980 and 0.3000 levels.

We need a negative consolidation and a new price increase to the 0.2925 level for a bearish option. A break below would mean the formation of a new low and the continuation of Cardano’s decline. Potential lower targets are 0.2900 and 0.2880 levels.

The post Solana and Cardano: Cardano slipped to 0.2925 today 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 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...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...