Solana and Cardano: Cardano continues to drop to 0.245

The price of Solana continues to struggle with support at the 22.00 level. The price of Cardano fell to a new lower low this morning at the 0.245 level.

Solana chart analysis

The price of Solana continues to struggle with support at the 22.00 level. Yesterday, we saw a pullback to the 21.70 level, and there, we got new support that brought us back above the 22.00 level. Today’s consolidation takes place in the 22.00-22.40 range. Looking at the chart, we are on our way to visit the 22.40 resistance level. We need a break above to start a further recovery.

An additional resistance could be the EMA50 moving average, and we would have to cross that resistance too,  to gain its support. Potential higher targets are 22.60 and 22.80 levels. We need a negative consolidation drop below the 22.00 level for a bearish option. After that, we would be able to test the 21.60-21.80 support zone. Potential lower targets are 21.40 and 21.20 levels.

Cardano chart analysis

The price of Cardano fell to a new lower low this morning at the 0.245 level. Until then, we are in a sideways consolidation in the 0.245-0.247 range. The pressure is on the upper level, and we could expect to see a break above and the beginning of a more concrete recovery. Potential higher targets are 0.248 and 0.250 levels. The EMa50 moving average is in the zone around 0.254 levels.

We need a negative consolidation and a break below the 0.245 support level for a bearish option. Thus, we would see the formation of a new lower low and thereby confirm the bearish scenario. Potential lower targets are 0.244 and 0.242 levels.

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