• Yesterday, we saw a drop in the price of Solana to the $137.82 support level.
• A new seven-day low price Cardano was formed yesterday at the 0.425 level.

Solana chart analysis

Yesterday, we saw a drop in the price of Solana to the $137.82 support level. We quickly stabilized at that level and initiated positive consolidation and resistance above the $146.00 level. There we get support from the EMA200 moving average and continue this morning all the way to the $151.50 level. For now, we have resistance in that zone and are returning to the EMA20 and the $146.00 support level. If we manage to stay above, we can hope for a new positive consolidation and recovery on the bullish side.

Potential higher targets are $150.00 and $152.00 levels. We need a negative consolidation and a drop below the EMA200 and $145.00 level for a bearish option. With that, we take a step to the bearish side, increasing the momentum at the weekly open price to $143.35. The impulse below pushes us to a new low and moves us into negative territory. Potential lower targets are $142.00 and $140.00 levels.

Cardano chart analysis

A new seven-day low price for Cardano was formed yesterday at the 0.425 level. We found support at that level and recovered quickly to the 0.452 level. There, we encountered the EMA200 moving average, which had a negative effect on the movement because it crossed below the price level and started a new pullback. This led to this morning’s drop to the 0.428 level. Potential lower targets are the 0.425 and 0.420 levels.

For now, we have support at that low and are recovering to the 0.435 level. In the zone around 0.440, we have resistance in the EMA50 and the weekly open price. If we move above those levels will make us better positioned to initiate a positive consolidation. Potential higher targets are 0.445 and 0.450 levels. The EMA200 moving average is in the 0.450 zone and it will be a new challenge for us to continue to the bullish side.