Connect with us

Hi, what are you looking for?

Trading Secrets

Solana and Cardano: Cardano stops at the 0.260 level

Solana and Cardano: Cardano stops at the 0.260 level

The price of Solana continues its retreat today, dropping to the 23.00 level. Yesterday’s Cardano price recovery was stopped this morning at the 0.260 level.

Solana chart analysis

The price of Solana continues its retreat today, dropping to the 23.00 level. If the current consolidation continues, we could expect to see a test of yesterday’s support at the 22.50 level. A break below would form a new low and thus confirm the bearish scenario. Potential lower targets are 22.00 and 21.50 levels. Additional support for Solana could be found in the EMA50 moving average at the 22.00 level.

We need a positive consolidation and a price jump to the 24.00 level for a bullish option first. Then, it is necessary to hold up there, and form a new bottom at that level. After that, we could expect to see further recovery and growth at higher levels. Potential higher targets are 24.50 and 25.00 levels.

Cardano chart analysis

Yesterday’s Cardano price recovery was stopped this morning at the 0.260 level. After that, we see a bearish consolidation and pullback to the 0.256 level. At that level, we encounter support in the EMA50 moving average, which could stop further retreat. A break below would mean that we have lost support and continue with a further decline to lower levels. Potential lower targets are the 0.252 and 0.250 levels.

We need a positive consolidation price growth above the 0.262 level for a bullish option. Then we need to try to keep up there. With a new impulse, we would start the continuation of the Cardano price recovery. Potential higher targets are 0.264 and 0.266 levels. This week’s high price was at the 0.270 level.

The post Solana and Cardano: Cardano stops at the 0.260 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...