Solana and Cardano: Solana is testing support at $20.50
- The price of Solana is under pressure today at the $21.00 level.
- The price of Cardano rose to the 0.3772 level in the morning for the first time since last Monday
Solana chart analysis
The price of Solana is under pressure today at the $21.00 level. Additional pressure at that point creates the EMA50 moving average. A pullback soon followed, and now we are at the $20.57 level. It could be said that we are currently testing the $20.50 level. If we fall below the price should continue toward the $20.00 support level. And we had previous support at that level on Friday last week. We need a new positive consolidation, a return above $21.00, and the EMA50 moving average for a bullish option. Then we need to maintain our position above to start recovery with a new impulse. Potential higher targets are the $21.20 and $21.50 levels.
Cardano chart analysis
The price of Cardano rose to the 0.3772 level in the morning for the first time since last Monday. This was followed by a pullback and a drop to the 0.36500 level. We fell below the EMA50 moving average, which brings us back to the downside. We are holding in that zone for now, but we could expect to see a further pullback as the bearish pressure is still very much there. Potential lower targets are 0.3600, then 0.3550 support level from last week. We need a positive consolidation and a return above the 0.3700 level for a bullish option. Then we need to hold above that if we want to see the rest of the growth and price recovery.