Solana and Cardano: Solana continued up to the $115.00 level
The price of Solana just climbed to the $115.00 level.
Cardano price spent yesterday moving in the 0.610-0.630 range.
Solana chart analysis
The price of Solana just climbed to the $115.00 level. We successfully broke above yesterday’s resistance at $112.00. After yesterday’s jump, the price is sliding to support at $106.00. There, we encounter the EMA200 moving average, which does not allow us to slip below. We remain above and continue to see bullish consolidation and break above the $110.00 level.
After that, with two strong impulses, we climb up to the $115.00 level. Potential higher targets are $116.00 and $117.00 levels. For a bearish option, we need a pullback below $112.00 again. With that step, we are back under bearish pressure and moving away from the weekly high. After that, the price should start a bearish consolidation and start looking for new support. Potential lower targets are $110.00 and $108.00 levels.
Cardano chart analysis
Cardano price spent yesterday moving in the 0.610-0.630 range. Today, the upper line of this range was breached, and the price rose to the 0.645 level. We are still well above the 0.640 level and expect to continue rising above today’s high. Potential higher targets are 0.650 and 0.660 levels.
The price will have to drop again below the 0.630 level for a bearish option. This brings us back to the previous movement channel. The price is then under pressure to visit the lower line of the channel at the 0.610 level. The new rally could end ingloriously, and we could see a breakout below and the formation of a new low. Potential lower targets are 0.600 and 0.590 levels. Additional support for the price is the EMA200 in the zone around the 0.600 level.
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