Solana and Cardano: Cardano successfully tested 0.700 level

Solana chart analysis

Yesterday afternoon, the price of Solana was retreating to the $142.00 level. There, we encountered the EMA200 moving average and stayed above it. With a new impulse, we returned above the $146.00 level, and from there, we started a bullish consolidation above the $150.00 level. Today, we are looking at a continuation of that consolidation and climbing to the $153.00 level.

For now, we have resistance at that level and are heading back to the $151.00 support level. Here, we expect to get new support and move on and recover. Before that we need a break above $153.00. If we succeed in this, we will have room for further growth. Potential higher targets are $154.00 and $155.00 levels. We need a pullback to this morning’s support at the $149.00 level for a bearish option. By moving below, we fall to a new daily low and thereby confirm the weakness of the Solana price. Potential lower targets are $148.00 and $147.00 levels.

Cardano chart analysis

Yesterday, the Cardano price pulled back until it reached support at 0.704. There, we formed a new weekly low, and after that, we returned above the 0.735 level and the EMA200 moving average. We got stronger support at that level and started a bullish consolidation that took us above the 0.750 level. The price continued to climb to 0.774 and formed a new daily high there.

For now, we have resistance at that level and are making a pullback to the 0.755 level. We are under some bearish pressure and can expect a drop to new support. Potential lower targets are 0.750 and 0.7450 levels. For a bullish option, we need a continuation of positive consolidation and a return above the 0.770 level. Thus, we get the opportunity to climb to a new daily high and confirm the continuation of the bullish side. Potential higher targets are 0.775 and 0.780 levels.

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