Solana and Cardano: Solana is driving bullish momentum again
Solana and Cardano: Solana is driving bullish momentum again
We saw new support for the Solana price this morning at the $144.00 level.
Cardano’s price may soon rise above the EMA 200 moving average and the 0.345 level.
Solana chart analysis
We saw new support for the Solana price this morning at the $144.00 level. After that, the price started a bullish consolidation that is ongoing. Solana is currently at $148.05 and is forming a daily high here. We expect to see a further bullish surge and continuation to the bullish side. With the return to $150.00, we encounter the EMA 200 moving average, and we could expect some resistance there. With the impulse above Solana, it goes to a new high.
Potential higher targets are the $152.00 and $154.00 levels. For a bearish option, the price of Solana would have to pull back to the $144.00 support level. This time, we could see a break below to a new daily low, which gives us support that the price is under stronger bearish pressure. Potential lower targets are the $142.00 and $140.00 levels.
Cardano chart analysis
Cardano’s price may soon rise above the EMA 200 moving average and the 0.345 level. We are in a stable bullish consolidation and expect to see a new impulse above the EMA 200. This step will strengthen the bullish momentum, and Cardano should continue its recovery. Potential higher targets are the 0.350 and 0.355 levels.
For a bearish option, Cardano’s price would have to first pull back to 0.335. There, it would form a new daily low and show its weakness. The inability to move above the EMA 200 will strengthen the bearish momentum and cause Cardano to continue on the bearish side. Potential lower targets are the 0.330 and 0.325 levels. Down below, we expect testing and weekly open prices that could determine Cardano’s future fate.
The post Solana and Cardano: Solana is driving bullish momentum again appeared first on FinanceBrokerage.
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