Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

Solana and Cardano: Cardano retreated to the 0.575 level

Solana and Cardano: Cardano retreated to the 0.575 level

Last night, we saw a pullback in the Solana price to a support level of $100.15.
Wednesday brought us a new drop in the price of Cardano to the 0.574 level. 

Solana chart analysis

Last night, we saw a pullback in the Solana price to a support level of $100.15. We successfully tested the $100.00 price and started a new positive consolidation that continues today. We had a small break at $105.00, but on the second attempt, we managed to move above and climb to the $107.10 level. We expect to see a continuation of this trend and move up to $108.00 and the EMA200 moving average.

If the price were to break above these two obstacles, it would have a good chance to start a stronger recovery. Potential higher targets are $109.00 and $110.00 levels. For a bearish option, we need the price to fall below $105.00 first. There, the pressure on the price would already begin to continue with further decline. Potential lower targets are the $104.00 and $102.00 levels.

Cardano chart analysis

Wednesday brought us a new drop in the price of Cardano to the 0.574 level. Fortunately, the decline was stopped there, and the price started a bullish consolidation and climbed to the 0.595 level. We had the first resistance there, but we made a breakthrough above and jumped to the 0.608 level in a new attempt. We now also have support in the EMA200 moving average. We expect to see further growth, and potential higher targets are the 0.610 and 0.615 levels.

We need a drop below the EMA200 and the 0.595 level for a bearish option. A move below increases the pressure on Cardano to continue its pullback. That brings us back to testing the support zone around the 0.580 level again. Potential lower targets are 0.575 and 0.570 levels.

The post Solana and Cardano: Cardano retreated to the 0.575 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Disclaimer: thefreedomright.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 © 2020-2024 The Freedom Right. All Rights Reserved