Investment Tips 30-05-2023 12:27 23 Views

Solana and Cardano: Solana continues above 21.00 again

Cardano

Solana and Cardano: Solana continues above 21.00 again

  • The price of Solana formed a new high for the third day in a row.
  • Cardano’s price yesterday managed to form a new higher high at the 0.3864 level. 

Solana chart analysis

The price of Solana formed a new high for the third day in a row. Today’s high price was at the 21.37 level. If the current consolidation continues, we could expect to see a breakout above today’s high and the formation of a new one. Potential higher targets are 21.50 and 21.60 levels.

We need a negative consolidation and price pullback below the 21.00 level for a bearish option. In the zone around 20.80, we encounter the first moving averages. A break below means a further pullback and a visit to lower support levels. Potential lower targets are the $20.60 and $20.40 levels.

Solana chart analysis

Cardano chart analysis

Cardano’s price yesterday managed to form a new higher high at the 0.3864 level. From that level, we see the beginning of a pullback up to the 0.3750 level. We manage to consolidate and get support there. Then we climbed above the 0.3800 level, forming a higher low from which we now expect to see further recovery and potential testing of the previous high.

Potential higher targets are 0.3880 and 0.3900 levels. We need a negative consolidation and pullback to yesterday’s low at the 0.3750 level for a bearish option. A break below would mean a possible further price pullback. Potential lower targets are 0.3740 and 0.3720 levels.

Cardano chart analysis

 

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