Solana and Cardano: Cardano is rising to a new high 

Solana chart analysis

This morning, we see how the price of Solana gets support at the 70.00 level and starts a bullish continuation. We are currently at 72.50 and now taking a short break here before continuing higher. We expect to see a bounce above the 73.00 level soon and are stationed there. It is important that a new bottom is formed there. After that, we can start conquering higher levels. Potential higher targets are 74.00 and 75.00 levels.

We need a negative consolidation and pullback below the 70.00 support level for a bullish option. Pressure in that zone would lead to further price pullback and testing of the EMA50 moving average in the zone around the 69.00 level. A further drop below would only increase the pressure, and the potential lower targets are the 68.00 and 67.00 levels.

Cardano chart analysis

Cardano’s price has climbed to a new high at the 0.680 level. This year’s new high was formed, and now we see a pullback to support at the 0.640 level. If we fail to maintain above that level, a pullback and the formation of a new daily low will follow. Potential lower targets are 0.620 and 0.600 levels. The EMA50 is even lower, around the 0.560 level.

We would have to go back and test the 0.680 level for a bullish option. A break above would mean that the price of Cardano has the strength and determination to start further growth to a new high. Potential higher targets are 0.700 and 0.720 levels. This would create a new price high this year and strengthen the bullish option.

The post Solana and Cardano: Cardano is rising to a new high  appeared first on FinanceBrokerage.