Solana and Cardano: Solana stabilizes above the 24.00 level
- During the weekend, the price of Solana was in a strong bullish consolidation.
- Cardano’s price yesterday formed a new monthly high at the 0.270 level.
Solana chart analysis
During the weekend, the price of Solana was in a strong bullish consolidation. The beginning of the weekend started at the 20.00 level, and we ended on Monday morning at the 24.80 level. After that, the price makes a pullback and retreats to the $23.00 level. It gets support at that level and then starts a new positive consolidation and climbs again above the 24.00 level. Again, we encounter the 24.50-24.80 resistance zone.
We need a break above if we want to see a continuation to the bullish side. Potential higher targets are $25.00 and $25.50 levels. We need a negative consolidation and a new pullback to 23.00 previous support for a bearish option. A break below would form a new low and confirm the bearish scenario. Potential lower targets are 22.50 and 2.00 levels.
Cardano chart analysis
Cardano’s price yesterday formed a new monthly high at the 0.270 level. Growth stops at that level, and after that, we see a pullback to support at the 0.260 level. The price manages to get support at the level and starts a new bullish consolidation up to the 0.235 level. We need a continuation of this positive consolidation to revisit the previous high. Potential higher targets are 0.270 and 0.272 levels.
We need a negative consolidation and pullback to the 0.260 level for a bearish option. A break below would indicate a further pullback and a visit to lower support levels. Potential lower targets are 0.256 and 0.254 levels. Additional support in the zone around the 0.255 level is in the EMA50 moving average.
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