Solana and Cardano: Solana moves above the weekend high
The price of Solana rose this morning to $148.90, a new weekly high
Cardano’s price pulled back to the 0.328 support level yesterday, forming a weekly low there
Solana chart analysis
The price of Solana rose this morning to $148.90, a new weekly high. This week’s bullish consolidation managed to move the price above the weekend high at $147.00. Before that we saw a pullback on Monday to support at $140.00. After that, the price stabilized and started a bullish consolidation at this morning’s high. We also received support from the EMA 200 moving average, which had a positive effect on the price of Solana.
We are now at $146.50 and hope for further recovery to the bullish side. Potential higher targets are $149.00 and $150.00 levels. For a bearish option, we need a pullback of Solana’s price below MA 200 and the $144.00 level. That step will strengthen the bearish momentum, and the price will be forced to continue on the bearish side. Potential lower targets are the $143.00 and $142.00 levels.
Cardano chart analysis
Cardano’s price pulled back to the 0.328 support level yesterday, forming a weekly low there. Soon after that, the price stabilized and started a recovery. That brought us back above the EMA 200 moving average and weekly open price. Cardano continued to grow with new bullish momentum, forming a new weekly high this morning at the 0.347 level. For now, we have minor resistance there and are pulling back to the 0.342 level.
The price of Cardano could get new support here and start further growth on the bullish side. Potential higher targets are 0.348 and 0.350 levels. For a bearish option, we need a negative consolidation and price pullback below 0.340. With that step, we lose the previous bullish momentum and go back down to the EMA 200 moving average. Potential lower targets are 0.334 and 0.332 levels.
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