Solana and Cardano: Cardano retreats from the 0.2950 level 

• The price of Solana has been in a lateral consolidation in the previous 24 hours.
• Today’s Cardana price resistance is at the 0.2950 level.

Solana chart analysis

The price of Solana has been in a lateral consolidation in the previous 24 hours. We remain consolidating around the 22.00 level. Looking at the indicator setup, we could expect the price to make some pullback towards the EMA50 moving average.

We need a negative consolidation and a pullback to the 21.50 level for a bearish option first. A drop below would be the first step to further decline. Potential lower targets are 21.00 and 20.50 levels. We need positive consolidation and price growth up to the 22.50 level for a bullish option. Thus, we would form a new higher high, with the potential higher targets at 23.00 and 23.50 levels.

Cardano chart analysis

Today’s Cardana price resistance is at the 0.2950 level. From that place, we see the initiation of a price pullback to the 0.2920 level. That could trigger further price declines. Potential lower targets are 0.2900 and 0.2880 levels. We have additional support for the price of Cardan at the 0.2880 level in the EMA50 moving average. A fall below this level could further push the price to lower levels. Potential lower targets are 0.2860 and 0.2840 levels.

We need a new positive consolidation and price return above the 0.2950 level for a bullish option. Then it is necessary to hold up there in order to initiate a new bullish impulse and move further to the bullish side. Potential higher targets are 0.2980 and 0.3000 levels.