Connect with us

Hi, what are you looking for?

Trading Secrets

Solana and Cardano: Solana puts pressure on the 19.00 level

Solana and Cardano: Solana puts pressure on the 19.00 level

The price of Solana fell this morning to 18.85 levels and thus confirmed yesterday’s low. Cardano’s price continues to move sideways in the 0.243-0.247 range.

Solana chart analysis

The price of Solana fell this morning to 18.85 levels and thus confirmed yesterday’s low. After that, we see that the price consolidates at that level and initiates a bullish impulse that climbs to the 19.15 level. This impulse could indicate the beginning of a bullish recovery and further growth of the Solana price. Potential higher targets are 19.20 and 19.30 levels. We will have an additional oppro bullish option in the EMA50 moving average in the zone around 19.40 levels.

For a bearish option, we need a negative consolidation and a new pullback to level support at 18.85. A fall below this level would lead to the formation of a new low and thus confirm the continuation to the bearish side. Potential lower targets are 18.80 and 18.70 levels.

Cardano chart analysis

Cardano’s price continues to move sideways in the 0.243-0.247 range. For now, we manage to hold above the support zone, and we could expect to retest the 0.247 upper level of this channel. A break above could indicate that the price is preparing for further recovery and climbing to higher levels. An additional stop in this zone is the EMA50 moving average. Potential higher targets are 0.250 and 0.252 levels.

We need a negative consolidation and price pullback to the 0.242 level for a bearish option. A fall below this price could trigger a deeper pullback and the formation of a new lower low. Potential lower targets are 0.240 and 0.238 levels.

The post Solana and Cardano: Solana puts pressure on the 19.00 level 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...