Solana and Cardano: Solana faces resistance at $190.00
- The price of Solana recovered last night to the $196.00 level.
- Cardano’s price managed to start a bullish consolidation yesterday and climbed above the 0.610 resistance level.
Solana chart analysis
The price of Solana recovered last night to the $196.00 level. After consolidation in the $164.00-$176.00 range and below the EMA200, a bullish impulse followed above $180.00 and a jump to a new two-day high. We are stopping there and making a short pullback to the $184.00 level this morning. From there, we move to $189.00 and need a small step to move above $192.00 and return to the positive side.
Potential higher targets are $196.00 and $200.00 levels. In the zone around $200.00, we will be close to testing the weekly open price. We need a negative consolidation and price pullback to the $180.00 level for a bearish option. Here, we are again within reach of the EMA200 moving average. If we do not get its support, the price will have to drop below in search of a new support level. Potential lower targets are $172.00 and $168.00 levels.
Cardano chart analysis
Cardano’s price managed to start a bullish consolidation yesterday and climbed above the 0.610 resistance level. Crossing above 0.620, we get additional support in the EMA50 and continue to this morning’s high at the 0.646 level. We have resistance there for now and are pulling back to test the 0.620 and EMA50 moving average. Once again, we managed to stay above and continue in the 0.620-0.640 range.
We need a new bullish impulse in order to jump over this morning’s high and climb to a new one. Potential higher targets are 0.650 and 0.660 levels. The EMA200 moving average is in the zone around 0.670. We need a bearish impulse up to the 0.610 level for a bearish option. With that, we fall to a new daily low and confirm that the price is under bearish pressure. Potential lower targets are 0.600 and 0.590 levels.
