Solana chart analysis

The price of Solana fell to the $121.00 level on Friday. After the new support on Saturday, we saw a recovery to the $144.31 level. Sunday brought us another pullback to the $127.75 level by Monday morning. There we formed a new low and managed to stabilize. The price initiates a bullish consolidation from there and moves above the $140.00 level. There we got the support of the EMA 200 moving average, which gives us optimism for further recovery.

Potential higher targets are $145.00 and $147.50 levels. We need a negative consolidation and pullback below the EMA 200 and $140.00 for a bearish option. There we are again under pressure to continue further retreating to lower levels. Potential lower targets are $135.00 and $132.50 levels. Below we will be able to test the weekly open price and try to hold above it.

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Cardano chart analysis

Cardano fell to 0.317 on Friday and thus retreated to the movement period from November 2023. A quick consolidation at that level triggers a bullish momentum to the 0.350 level. On Saturday, the price continued up to 0.375; on Sunday, we saw a new pullback below 0.350. This led to the formation of a new low at 0.330 on Monday morning. With new support at that level, Cardano initiated a bullish consolidation above the EMA 200 moving average.

A new weekly high was formed at the 0.380 level. For now, we have resistance there which has resulted in a pullback to 0.360. Today’s movement is in the 0.360-0.375 range. We are close to moving above the EMA 200 again and testing the previous high. Potential higher targets are 0.390 and 0.400 levels. We need a negative consolidation and pullback below the 0.360 level for a bearish option. With that, we are going to a new daily low, which will increase the pressure on Cardano to look for new support. Potential lower targets are 0.350 and 0.340 levels.

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