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Solana and Cardano: Solana climbs above the 36.00 level

Solana and Cardano: Solana climbs above the 36.00 level

The price of Solana very successfully continues with bullish consolidation, forming today a new high price at the 36.97 level.
This morning, we saw the Cardano price jump to the 0.305 level.

Solana chart analysis

The price of Solana very successfully continues with bullish consolidation, forming today a new high price at the 36.97 level. There are no signs of weakness in this consolidation, and expectations are that we will see continuation and growth to higher levels on the chart. Potential higher targets are 38.00 and 39.00 levels.

For a bearish option, we need a negative consolidation and pullback to the 35.00 support level. Then we need a drop below it, and that would mean the bearish pressure is increasing, and we could see some stronger bearish impulse and a drop lower. Potential lower targets are 34.00 and 33.00 levels.

Additional support for the Solana price could be found in the EMA50 moving average in the zone around the 32.00 level.

Cardano chart analysis

This morning, we saw the Cardano price jump to the 0.305 level. The previous time we were at that level was at the beginning of August. There was saturation at that level, and the price retreated to the 0.295 level, where it found support and stopped the pullback.

Now, we expect to see a new bullish consolidation and a move above the 0.300 level again. Potential higher targets are 0.305 and 0.310 levels.

For a bearish option, we need a negative consolidation and pullback below the support at the 0.295 level. After that, we must pay attention to the 0.290 level because if we fall below, we encounter the EMA50 moving average.

A price break below that support opens the door for a bigger pullback in Cardano price. Potential lower targets are 0.285 and 0.280 levels.

 

The post Solana and Cardano: Solana climbs above the 36.00 level appeared first on FinanceBrokerage.

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