Solana and Cardano: Solana makes a push to the $19.30 level
- This morning, we saw a strong bullish impulse of the Solana price at the $19.30 level.
- Cardano’s price was again at 0.252 in the morning, testing the previous resistance level.
Solana chart analysis
This morning, we saw a strong bullish impulse of the Solana price at the $19.30 level. We stayed there for a short time and then dropped at the support at the $18.60 level. For now, we are consolidating in that zone, and the pullback has stopped. Additional pressure on the price is also created by the EMA50 moving average around the $18.70 level.
We need a bullish impulse that would move us to the $19.00 level and thus initiate a new bullish consolidation. Potential higher targets are the $19.20 and $19.40 levels. We need a negative consolidation below today’s support at the $18.60 level for the bearish option. After that, we could expect to see a continuation of the Solana price retreat. Potential lower targets are $18.40 and $18.20 levels.
Cardano chart analysis
Cardano’s price was again at 0.252 in the morning, testing the previous resistance level. We still have resistance at that level, and Cardano is making a pullback to the 0.247 support level. Now, we need a new bullish impulse and a move above the 0.250 level. Thus, we would move above the EMA50 moving average and get its support for continuing to the bullish side. Potential higher targets are 0.254 and 0.256 levels.
We need a negative consolidation and price pullback below the 0.246 support level for a bearish option. After that, we look at the previous support in the zone around the 0.244 level. A break below would signal a bigger drop in the price of Cardano. Potential lower targets are 0.242 and 0.240 levels.