Solana chart analysis

Today, we see a pullback in the Solana price to 22.80. Yesterday, we tried to break above the 24.80 level and reach the 25.00 level, but we did not succeed in that intention. Conversely, a pullback to this morning’s low followed. The price remains still under pressure because we only moved up to the 23.10 level. We need a positive consolidation in order to launch a bullish option. Potential higher targets are 23.50 and 24.00 levels.

We need a negative consolidation and a new drop below the 22.80 support level for a bearish option. A break below leads to the formation of a new low and confirmation of a bearish option. Potential lower targets are 22.50 and 22.00 levels. Additional support in the zone around 22.00 was the EMA50 moving average.

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Cardano chart analysis

The price of Cardano fell to the 0.253 level this morning, forming a new low there. After that, we saw a slight recovery, which stopped at 0.258. We are supported by the EMA50 moving average, but the price remains under bearish pressure. This could lead to a breakout below and a continuation of the pullback to lower levels. Potential lower targets are 0.252 and 0.250 levels.

We need a positive consolidation and a break above the 0.258 resistance level for a bullish option. Then, we would have to hold up there in order to form a new bottom from which we would start a bullish recovery. Potential higher targets are 0.260 and 0.262 levels.

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