Solana and Cardano: Solana jumps to the 47.00 level

Solana chart analysis

The price of Solana breaks above the 45.00 level and forms a new high at the 46.85 level. We are very close to testing last week’s price high at 46.97. Soon, we can expect a new breakout above and the formation of a new high price. Potential higher targets are 47.50 and 48.00 levels.

Currently, the price is in a strong bullish momentum, and we expect to see continued growth, perhaps up to the 50.00 level.

We need a negative consolidation and pullback to the 45.00 support level for a bearish option. A drop below this price would cause Solana to enter the bearish zone and begin the continuation of the retreat.

Potential lower targets are 44.00 and 43.00 levels. The EMA50 moving average is even lower at the 41.00 level.

Cardano chart analysis

Cardano’s price is in a two-day bullish trend, and we are very close to testing the previous high at the 0.376 level. We are currently at 0.374 and could soon reach the previous price high. A break above is possible, and we can expect it during the day. Potential higher targets are 0.380 and 0.385 levels.

For a bearish option, we need a negative consolidation and pullback to the previous support at the 0.365 level. A drop below this level would bring us down to test the lowest daily price at the 0.360 level.

The increased bearish pressure that would arise in the meantime would influence us to see a new breakout below and the formation of the next low. Potential lower targets are 0.355 and 0.350 levels. The EMA50 moving average awaits us in the zone around the 0.340 support level.

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