Connect with us

Hi, what are you looking for?

Trading Secrets

Solana and Cardano: Solana goes a little lower below $180.00

Solana and Cardano: Solana goes a little lower below $180.00

The price of Solana is retreating after forming a weekly high at the $184.63 level. The price of Cardano was in a four-day bullish trend until last night at 0.617.

Solana chart analysis

The price of Solana is retreating after forming a weekly high at the $184.63 level. We pulled back below the EMA200 moving average and continued bearish consolidation today. This leads to a drop to the $173.50 level, a new weekly low. We remain under bearish pressure and expect a continuation to the bearish side. Potential lower targets are $172.00 and $170.00 levels.

We need a negative consolidation and a move above the $180.00 level for a bullish option. This brings us back above the weekly open price, which moves us to the positive side. After that, we need to move above the EMA200 moving average in order to get its support. Potential higher targets are the $182.00 and $184,000 levels.

Cardano chart analysis

The price of Cardano was in a four-day bullish trend until last night at 0.617. There, we encounter resistance and start a pullback below the 0.610 level. Increased bearish pressure pushed us below the 0.600 level to a new daily low of 0.595. We managed to move back above 0.600 and the EMA200 moving average to stay above and start a new positive consolidation.

If this does not happen, we fall below again, and the potential lower targets are 0.590 and 0.585 levels. Moving up to 0.610 will take the first bullish step towards recovery. After that we look towards the 0.615 daily open price. Moving above it will only increase the bullish momentum and could test last night’s high. Potential higher targets are 0.620 and 0.625 levels.

The post Solana and Cardano: Solana goes a little lower below $180.00 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...