Solana and Cardano: Solana falls below the $19.00 level
- The price of Solana broke the three-day support zone at the 19.40 level yesterday.
- The price of Cardana continues its bearish retreat for the third day in a row.
Solana chart analysis
The price of Solana broke the three-day support zone at the 19.40 level yesterday. A drop below takes the price all the way down to the 18.72 level. Down we are getting new support, and with positive consolidation, we are back within reach of the 19.40 level. Now we are at 19.33, but we have already tested the resistance level once.
To continue on the bullish side, we need a break above and try to hold above the 19.40 level. After that, we could expect to see a continuation of the recovery to the bullish side. Potential higher targets are 19.60 and 19.80 levels.
Cardano chart analysis
The price of Cardano continues its bearish retreat for the third day in a row. This morning we fell to the 0.3551 level. The pressure on that level is still very present because the price was able to recover only to the 0.3580 level. It is possible that we will see a further pullback and the formation of this week’s new lower low.
Potential lower targets are 0.3540 and 0.3520 levels. We need a positive consolidation and a return above the 0.3620 level for a bullish option. Then we need to stay up there and start the recovery with a new impulse. Potential higher targets are 0.3640 0.3660 levels.