Solana and Cardano: Solana is consolidating at $110.00

Solana chart analysis

This morning, we saw Solana’s price jump up to $112.37 level. That’s how we formed a seven-day high. On Saturday, the price gets support at $98.46 and starts a bullish consolidation from there. On Monday, we have new support at the $100.00 level. With bullish momentum, we quickly moved above $105.00 and the EMA200 moving average. This further strengthened the price growth, which took us to this morning’s high.

In the last few hours, we are consolidating above the $110.0 level and if we manage to hold above, we will have a good basis for further recovery. Potential higher targets are $113.00 and $114.00 levels. We need a pullback below the $108.00 level for a bearish option. With that move, we would move away from the bullish path and be turned towards the bearish side and lower levels. Potential lower targets are $107.00 and $106.00 levels.

Cardano chart analysis

Yesterday’s bullish consolidation pushed the price of Cardano up to 0.630 levels this morning. We are stopping there, and for now, we are staying lower in the zone around the 0.620 level. We were within reach of climbing up to last week’s resistance at the 0.640 level. If we manage to hold our own here now, we will have an opportunity for further growth and testing of previous resistances. Potential higher targets are 0.640 and 0.650 levels.

We need a price drop below the 0.620 support level for a bearish option. With that step, we move away from the previous high and strengthen the bearish momentum. Potential lower targets are 0.610 and 0.600 levels. Additional support is the EMA200 moving average around the 0.595 level, and this is where the price could stop or slow down the pullback.

The post Solana and Cardano: Solana is consolidating at $110.00 appeared first on FinanceBrokerage.