Solana and Cardano: Solana continues to rise above $192.00
This morning, we saw a jump in the price of Solana to the $198.00 level.
This week’s high price Cardano was formed this morning at the 0.681 level.
Solana chart analysis
This morning, we saw a jump in the price of Solana to the $198.00 level. The price initiated a strong bullish consolidation on Sunday evening above the $178.00 level. There, we made a break above the EMA200 moving average, and it was very easy for us to move to the bullish side. We are now at $194.00, making a slight pullback from the previous high. It is important for us to stay above the $190.00 level in order to have a high position for the continuation of the bullish trend.
Potential higher targets are $200.00 and $202.00 levels. We need a negative consolidation and a drop below the $190.00 level for a bearish option. This step increases the bearish pressure on the price of Solana to start a further retreat. Potential lower targets are $188.00 and $186.00 levels. In the zone around $188.00 we come across the EMA50 moving average, while the EMA200 is in the zone around $80.00.
Cardano chart analysis
This week’s high price Cardano was formed this morning at the 0.681 level. For the fourth day in a row, the price is in a bullish consolidation after falling on Friday evening to the 0.600 level. Over the weekend, the price was in a bullish channel, rising on Sunday evening above the EMA200 and 0.650 levels.
Yesterday we first looked at consolidation in that zone until the EMA50 moving average was approached. After that, we get an impulse that starts a further war and climbs us to a weekly high.
Potential higher targets are 0.680 and 0.685 levels. Cardano would have to go down again to the 0.660 level for a bearish option. This brings us back to the daily open price. Below it, we move to the bearish side, and thus, the bearish momentum increases. Potential lower targets are 0.650 and 0.640 levels.
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