Solana and Cardano: Solana is holding above the 20.40 level
- The price of Solana remained stable above the 20.40 level.
- The price of Cardano continues to fall today until the 0.3610 level.
Solana chart analysis
The price of Solana remained stable above the 20.40 level. Additional support was provided by the EMA50 moving average. This could have a positive effect on the price movement. Potential higher targets are 21.00 and 21.20 levels. Depending on the momentum, we may also visit the previous resistance zone around the 21.40 level.
We need a negative consolidation and pullback below the 20.40 level for a bearish option. After that, we would see a further decline and a visit to lower support levels. Potential lower targets are 20.20 and 20.00 levels.
Cardano chart analysis
The price of Cardano continues to fall today until the 0.3610 level. Yesterday we encountered resistance at the 0.3780 level; the price stopped there and began to retreat. Price pressure is still very much present, which could result in further decline. Potential lower targets are 0.3580 and 0.3560, last week’s support levels.
We need a positive consolidation and a return to the 0.3650 level for a bullish option. A break above this level and staying up there could bring a reversal and increase the price of Cardano. Potential higher targets are 0.3700 and 0.3750 levels.