Solana and Cardano: Solana has stabilized above 23.00

• The price of Solana is in a slight recovery compared to yesterday.
• The price of Cardana continues with bearish movement and testing support at the 0.3000 level.

Solana chart analysis

The price of Solana is in a slight recovery compared to yesterday. The current price is 23.60, and based on the chart, we could expect to see a continuation of the move to the bullish side. Potential higher targets are 24.00 and 24.50 levels. We have additional resistance at the 24.50 level in the EMA50 moving average, and we need a break above to see further growth and recovery of Solana.

We need a negative consolidation and price pullback below the 23.00 level for a bearish option. After that, we could expect to see a further decline and the formation of a new lower low. Potential lower targets are 22.50 and 22.00 levels.

Cardano chart analysis

The price of Cardana continues with bearish movement and testing support at the 0.3000 level. If pressure continues at that point, a breakout below and the formation of a new lower low could easily occur. Potential lower targets are 0.2950 and 0.2900 levels.

We need a positive consolidation and price movement to the 0.3100 level for a bullish option. There, we would be able to test the EMA50 moving average. We need a break above it if we want to see a continuation to the bullish side. Potential higher targets are 0.3150 and 0.3200 levels. Returning above 0.3200, we would form this week’s new high and get closer to last week’s at 0.3300.