Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

Solana and Cardano: Solana retreats to the 19.70 level

Solana and Cardano: Solana retreats to the 19.70 level

Yesterday’s bullish trend in the price of Solana was stopped at the 20.60 level.
Cardano’s price rose to 0.259 this morning, forming a new high.

Solana chart analysis

Yesterday’s bullish trend in the price of Solana was stopped at the 20.60 level. From there, we started to pull back, and the price fell below 20.00 this morning, forming a low at the 19.70 level. We are now consolidating above there and have stopped the previous decline. We need a positive consolidation in order to return to the 20.00 level again.

Additional resistance at that level is now at the EMA50 moving average, and we need a break above for further recovery. Potential higher targets are the 20.20 and 20.40 levels, as well as the 20.60 previous high.

We need a negative consolidation and a price drop below the 19.60 level for a bearish option. After that, we could expect to see a further weakening of the entire Solana. Potential lower targets are 19.40 and 19.20 levels.

Cardano chart analysis

Cardano’s price rose to 0.259 this morning, forming a new high. We fail to stay up there and soon see a pullback to the 0.255 support level. We need a new positive consolidation and a new close to the 0.260 level. There, we would receive support in the EMA50 moving average, which would increase our optimism for further recovery. Potential higher targets are 0.262 and 0.264 levels.

We need a negative consolidation and price pullback below the 0.255 level for a bearish option. After that, we enter bearish territory, which could send the price to even lower levels. Potential lower targets are the 0.252 and 0.250 levels.

The post Solana and Cardano: Solana retreats to the 19.70 level appeared first on FinanceBrokerage.

Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!



    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Economy

    Amp’s 223.67% Leap: Analyzing the Sudden Spike The cryptocurrency community has recently been set abuzz by the phenomenal rise of Amp (AMP). Just in...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Disclaimer: Deluxeinvestmentgroup.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 deluxeinvestmentgroup.com