Solana is down to 55.00 and Cardano is testing EMA50

The price of Solana failed to hold yesterday at the 55.00 level and fell below to a new low at the 51.28 level. Yesterday, the price of Cardano was in retreat until the 0.355 level.

Solana chart analysis

The price of Solana failed to hold yesterday at the 55.00 level and fell below to a new low at the 51.28 level. The fall was stopped there, and a bullish consolidation was started again up to the 55.00 level. We are currently encountering resistance in that zone but are holding a little below, essentially consolidating ourselves in the 54.00-55.00 range. We need a break above to start a continuation of the recovery to the bullish side.

Potential higher targets are 56.00 and 57.00 levels. We will have additional resistance in the zone around the 57.00 level in the EMA50 moving average. We need a negative consolidation and a price drop below the 54.00 level for a bearish option. After that, the price comes under more bearish pressure to start a further pullback. Potential lower targets are 53.00 and 52.00 levels.

Cardano chart analysis

Yesterday, the price of Cardano was in retreat until the 0.355 level. Once again, we fell into this support zone and started a bullish consolidation. Consolidation took us to the 0.370 level, where we encountered the EMA50 moving average. For now, we are moving below it. We need to break above it and stay above it for a while. Then, we would form a new bottom there, from which we would have the opportunity to start a further recovery.

Potential higher targets are 0.380 and 0.385 levels. 0.385 is our price from the beginning of this week. We need a negative consolidation and a price drop to the 0.365 level for a bearish option. A break below would trigger the price and direct it to the bearish side. Potential lower targets are 0.360 and 0.355 levels.

 

The post Solana is down to 55.00 and Cardano is testing EMA50 appeared first on FinanceBrokerage.