Solana and Cardano: Solana is again near the 32.00 level
- The price of Solana continues with the previous bullish consolidation above the $30.00 level.
- Cardano’s price is facing resistance today at the 0.285 level.
Solana chart analysis
The price of Solana continues with the previous bullish consolidation above the $30.00 level. This morning, we had the opportunity to look for support at that level, and we succeeded in doing so. We started a new bullish consolidation and jumped to the $32.00 level. We are now hovering around the $31.50 level and expect to see continued growth to the bullish side. We need a break above the $32.00 level and then try to hold above it.
A new bullish impulse would influence us to start further growth with the aim of forming a new higher high. Potential higher targets are $33.00 and $34.00 levels. We need a negative consolidation and a drop below the $30.00 support level for a bearish option. Potential lower targets are the $29.00 and $28.00 levels. We have additional support at the $28.00 level in the EMA50 moving average.
Cardano chart analysis
Cardano’s price is facing resistance today at the 0.285 level. From that level, we see a pullback to the 0.275 support level. Yesterday, we also had support in that zone and managed to stay above it. Now, we are putting new pressure on the same spot, which could cause the zone to give way and the price to break below and begin a retreat. Potential lower targets are 0.270 and 0.265 levels.
Additional support is the EMA50 moving average in the zone around the 0.265 level. We need a positive consolidation and a jump to the previous resistance at the 0.285 level for a bullish option. A price break above would be the first sign that we are starting to continue on the bullish side. Potential higher targets are 0.290 and 0.295 levels.
