Solana Bulls Get Ready For Targets of $116.00 and $117.00
- Yesterday, we watched the Solana price drop to $103.43.
- Cardano’s price climbed up to the 0.566 level during the weekend.
Solana chart analysis
Yesterday, we watched the Solana price drop to $103.43. The price got that support and started a bullish consolidation that took us up to the $112.00 level by the end of the day. Today, we continue to grow and climb to the $115.17 level, forming a new February high. There are good chances that we will see a further increase in the price of Solana to higher levels. Potential higher targets are $116.00 and $117.00 levels.
We need a negative consolidation and a price drop below the 113.00 level for a bearish option. Should the price pull back below, Solana would be pressured to make a deeper pullback in search of new support. Potential lower targets are $112.00 and $111.00 levels. The EMA200 moving average is in the zone around the $105.00 level.
Cardano chart analysis
Cardano’s price climbed up to the 0.566 level during the weekend. This created a new two-week price high. After that, on Sunday, the price was retreating until Monday at the 0.530 level of support. We successfully consolidated there and initiated a bullish consolidation from that zone. That brought us back to testing the 0.566 level. We encounter new resistance at the same level and retreat to support at the 0.550 level.
Cardano successfully forms a higher low there and initiates a bullish consolidation, taking us up to the 0.560 level. We are now close to exerting new pressure on the 0.566 resistance level, and with a stronger impulse, we could jump above. Potential higher targets are 0.570 and 0.580 levels.
