Solana and Cardano: Cardano slipped to 0.2925 today

• The price of Solana retreated this morning to the 22.50 level.
• The price of Cardana today fell to a new low at the 0.2925 level.

Solana chart analysis

The price of Solana retreated this morning to the 22.50 level. A new lower low was formed compared to the previous week. Now, we see an attempt to consolidate at the 22.70 level. We need a positive consolidation and a return above the 23.00 level in order to initiate a bullish option. Then, we would have to try to hold above the 23.00 level and form a new higher low at that point.

With a new impulse, we could continue with the recovery. Potential higher targets are 23.50 and 24.00 levels. Additional resistance around 24.00 is in the EMA50 moving average. We need a negative consolidation and pullback below the 22.50 level for a bearish option. After that, the price could easily fall to the 22.00 level and form a new lower low there.

Cardano chart analysis

The price of Cardana today fell to a new low at the 0.2925 level. We have received immediate support at that level and see a recovery above the 0.2950 level. We now need a continuation of this positive consolidation in order to move further to the bullish side. Potential higher targets are 0.2980 and 0.3000 levels.

We need a negative consolidation and a new price increase to the 0.2925 level for a bearish option. A break below would mean the formation of a new low and the continuation of Cardano’s decline. Potential lower targets are 0.2900 and 0.2880 levels.