Solana and Cardano: Solana makes a new high at 24.78
- Since the beginning of this week, the price of Solana has been in a strong bullish trend.
- The price of Cardano jumped to the 0.260 level at one point yesterday.
Solana chart analysis
Since the beginning of this week, the price of Solana has been in a strong bullish trend. Yesterday, we saw a jump to the 24.78 level and the formation of a two-week high. After that, a pullback to 23.20, where we get new support and move into another bullish consolidation above the 24.00 level. Today’s high is at 24.60, and it could happen that we make a break above and test the previous high.
Potential higher targets are 24.80 and 25.00 levels. We need a negative consolidation and pullback below the 23.80 level for a bearish option. After that, we would expect to see a further retreat to lower support levels. Potential lower targets are 23.60 and 23.40 levels.
Cardano chart analysis
The price of Cardano jumped to the 0.260 level at one point yesterday. This was followed by a pullback to the 0.250 support level. Additional support in that zone is in the EMA50 moving average. For now, the price manages to hold above the support level and recover to the 0.252 level. We could expect to see a continued recovery and a continuation to the bullish side.
Potential higher targets are 0.256 and 0.258 levels. We need a negative consolidation and a break below the EMA50 moving average for a bearish option. This would have the effect of increasing the pressure on Cardano to initiate further withdrawals. Potential lower targets are 0.246 and 0.244 levels.
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