Solana and Cardano: Solana is holding at the 23.00 level
- The price of Solana retreated this morning to the 22.37 support level.
- The price of Cardano fell to a new low this morning at the 0.265 level.
Solana chart analysis
The price of Solana retreated this morning to the 22.37 support level. After that, we saw a bullish consolidation and a price jump to the 23.40 level. For now, we have that resistance and are pulling back to the 23.00 level. Here, we could get new support from which we would have the opportunity to start a more specific bullish trend. Potential higher targets are 23.60 and 23.80 levels.
We need a negative consolidation and a drop below the 23.00 support level for a bearish option. After that, we would be in a position to start a pullback towards the previous low. Potential lower targets are 22.40 and 22.20 levels.
Cardano chart analysis
The price of Cardano fell to a new low this morning at the 0.265 level. After that, the price recovers and rises to the 0.278 level. For now, we have less resistance at that level, and Cardano is retreating to the 0.275 level. If this consolidation continues, the price could easily slip to the previous low and break below. Potential lower targets are the 0.260 and 0.250 levels.
We need a positive consolidation and a jump to the 0.280 level for a bullish option. Then, it would be desirable to hold above that in order to be able to start a bullish scenario with a new impulse. Potential higher targets are 0.282 and 0.284 levels. We could have additional resistance in the EMA50 moving average at the 0.290 level.
