Solana in bullish surge, Cardano lags behind with momentum
- Solana’s excellent price support at the EMA 50 moving average influenced the initiation of a bullish trend.
- The price of Cardano climbed to the 0.340 level, a new daily high.
Solana chart analysis
Solana’s excellent price support at the EMA 50 moving average influenced the initiation of a bullish trend. After yesterday’s support at the $140.00 level, we see growth above the $150.00 level today. We are currently at $154.00 and have found new support at the EMA 200 moving average. Now, we hope for a further bullish continuation and the formation of a new weekly high.
Potential higher targets are $160.00 and $165.00 levels. For a bearish option, we need a negative consolidation, a return below $150.00, and the EMA 200 moving average. With that step, we will see how we move away from today’s resistance zone. After that, we can expect a drop to the daily open price in the area of the $145.00 level. With the impulse below, we will form a new daily low. Potential lower targets are the $140.00 and $135.00 levels.
Cardano chart analysis
The price of Cardano climbed to the 0.340 level, a new daily high. Last night we got support in the EMA 50 moving average, which had the effect of seeing a slight bullish consolidation. We hope that the price will have enough strength to continue above 0.344 and return to the positive side via the weekly open price. By returning to the bullish side, the chances for some recovery increase.
Potential higher targets are the 0.350 and 0.360 levels. The EMA 200 moving average will pose a problem in the 0.360 zone. For a bearish option, we need a negative consolidation and a pullback of Cardano below the EMA 50 and 0.330 levels. This means that the price is losing support and could initiate a pullback to a new daily low. Potential lower targets are the 0.320 and 0.310 levels.
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