Solana is in retreat, while Cardano jumps to the 0.456 level
- The price of Solana is retreating after yesterday’s jump to 66.63 levels.
- Cardano’s price climbed to a new high last night at 0.456.
Solana chart analysis
The price of Solana is retreating after yesterday’s jump to 66.63 levels. A pullback followed and a drop to the 62.00 support level. Today’s recovery managed to move the price up to the 64.00 level because there we encountered resistance and turned again towards the 62.00 level. Increased pressure would lead to a breakout below a pullback to the 61.00 level and a test of the EMA50 moving average. Potential lower targets are 60.00 and 59.00 levels.
We need a positive consolidation and a price break above the 64.00 resistance level for a bullish option. A move above would release us from the bearish pressure, and we could start a further recovery unhindered. Potential higher targets are 65.00 and 66.00 levels.
Cardano chart analysis
Cardano’s price climbed to a new high last night at 0.456. We stopped there and started a pullback to the 0.430 level. We are currently holding around the 0.440 level but remain under pressure to start a further pullback and visit the next lower support zone. Potential lower targets are the 0.425 and 0.420 levels. The EMA50 moving average awaits us in the zone around the 0.410 level.
We need a positive consolidation and a return to the 0.450 level for a bullish option. Then, we need to hold up there and try to move above the 0.455 level again. If we succeed, we will form a new price high and thus confirm a bullish recovery. Potential higher targets are 0.460 and 0.465 levels.
