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Solana and Cardano: Solana stabilizes above the 24.00 level

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.

The post Solana and Cardano: Solana stabilizes above the 24.00 level appeared first on FinanceBrokerage.

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