Investment Tips 23-05-2023 15:28 34 Views

Solana and Cardano: Solana at the 20,00 level today

solana

Solana and Cardano: Solana at the 20,00 level today

  • The price of Solana fell to a new lower low yesterday at the 19.30 level.
  • The price of Cardana continues the bullish consolidation that started yesterday.

Solana chart analysis

The price of Solana fell to a new lower low yesterday at the 19.30 level. Soon followed by a call consolidation that took us up to the 20.00 level. The increased volatility once again brings us down to the 19.40 level, where we get new support and start a recent recovery. This led us to reach 20,20 levels.

The price has now stabilized around the 19.80 level, and for now, we have support at that level. With a new bullish impulse, we could start a price recovery. Potential higher targets are 20.40 and 20.60 levels. We need a negative consolidation and a drop to the 19.60 level for a bearish option.

In that way, we would approach the support zone. A longer stay in that zone would probably lead to a continuation of the decline in the price of Solana.

Solana chart analysis

Cardano chart analysis

The price of Cardana continues the bullish consolidation that started yesterday. Support was obtained at the 0.3564 level, after which we see the first bullish impulse up to the 0.3750 level. Then we have a pullback to the 0.3650 level, where we get new support and continue the growth. This led to the formation of the following high at the 0.3755 level.

We are looking for current support at the 0.3700 level, and if we get it with a new impulse, we could start forming a new higher high. Potential higher targets are 3,800 and 3,850 levels.

Cardano Chart Analysis

 

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