Solana and Cardano: Solana climbs to a new high at 46.97
The price of Solana climbed to a new high yesterday at the 46.97 level.
This morning, we saw the formation of a new high price of Cardano this week at the 0.313 level.
Solana chart analysis
The price of Solana climbed to a new high yesterday at the 46.97 level. After that, we see a pullback to the 40.00 support level. We got support at that level, and we are starting a new bullish consolidation up to the 44.00 level. We are currently pausing a bit at that level and pulling back slightly to the 43.00 level. Expectations are that we will see continued growth in the price of Solana. Potential higher targets are 45.00 and 46.00 levels.
For a bearish option, we need a negative consolidation and a new price pullback to the 40.00 support level. A break below could indicate a weakening of the bullish option and a move to the bearish side. Potential lower targets are 39.00 and 38.00 levels. The EMA50 moving average is waiting for us at the 36.00 level.
Cardano chart analysis
This morning, we saw the formation of a new high price of Cardano this week at the 0.313 level. We stopped there, and the price started to retreat to the 0.305 level. For now, we are holding above that level and expect to see a break above this morning’s high and a continuation to the bullish side. Potential higher targets are 0.315 and 0.320 levels.
For the bearish option, we need a negative consolidation and a drop below this morning’s low at the 0.305 level. A break below could signal a continuation of the pullback and a drop to lower support levels. Potential lower targets are 0.300 and 0.295 levels. Additional support could be found in the EMA50 moving average in the zone around the 0.290 level.
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