Solana and Cardano: Cardano recovers above 0.380 level

• The price of Solana managed to move above the previous weekend’s high and form a new one at the $146.31 level.
• Today, Cardano’s price has formed a new weekly high at the 0.387 level. 

Solana chart analysis

The price of Solana managed to move above the previous weekend’s high and form a new one at the $146.31 level. This morning, we received support from the EMA 200 moving average at the $139.00 level. After that, the price started a bullish consolidation to a new weekly high. Currently, there is a slowdown in growth, and we see a slight pullback to the $143.90 level. 

This could trigger a deeper pullback with the aim of finding new support. Potential lower targets are the $140.00 and $138.00 levels. We need a positive consolidation and a jump above the $146.00 level for a bullish option. With that, we are one step closer to a new weekly high. Potential higher targets are the $148.00 and $150.00 levels. Last week’s high is at the $154.80 level.

Cardano chart analysis

Today, Cardano’s price has formed a new weekly high at the 0.387 level. This morning, we received support from the EMA 200 moving average at 0.373, after which a positive consolidation to a new high was initiated. We are now at 0.385, holding high and hoping for a continuation on the bullish side. Potential higher targets are the 0.390 and 0.400 levels.

Last week’s high price, Cardano, was at 0.423 level. For a bearish option, we need a negative consolidation below 0.370 and EMA 200 moving average. With this, we move to a new daily low and confirm the increase in bearish momentum. Potential lower targets are 0.360 and 0.350 levels. The price of Cardano could test the weekly open price in the zone of 0.350 levels before continuing further bearish.

The post Solana and Cardano: Cardano recovers above 0.380 level appeared first on FinanceBrokerage.