Solana and Cardano: Solana creates a new low below $145.00

  • June 12, 2024
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Solana and Cardano: Solana creates a new low below $145.00

The price of Solana experienced a temporary setback, falling to $144.95 last night, which marked a new weekly low.
The price of Cardano continued its retreat yesterday until reaching the 0.413 level.

Solana chart analysis

The price of Solana experienced a temporary setback, falling to $144.95 last night, which marked a new weekly low. However, it quickly demonstrated its resilience by stabilizing in that zone and initiating a robust recovery above the $148.00 level. Today, we continue to see positive momentum, with the price moving towards the $152.50 level. A little more is needed for the price to surpass the EMA50 moving average and the 153.50 level. If it manages to do so, it will open up significant potential for further bullish movement.

Potential higher targets are $155.00 and $157.50 levels. We need a negative consolidation and pullback below the $148.00 level for a bearish option. With that, we return to the bearish side and turn towards the support zone. Potential lower targets are $147.50 and $145.00 levels.

 

Cardano chart analysis

The price of Cardano continued its retreat yesterday until reaching the 0.413 level. A new weekly low was formed there, after which we managed to stabilize there. With positive consolidation, the price recovers to the 0.425 level. We are now looking at an attempt to form a bottom at this level to create a position to initiate further recovery.

Potential higher targets are 0.430 and 0.435 levels. Additional resistance could be found in the EMA50 moving average. We need a negative consolidation and price pullback below the 0.420 level for a bearish option. In this way, we move to the negative side below the daily open price. Potential lower targets are 0.415 and 0.410 levels.

 

The post Solana and Cardano: Solana creates a new low below $145.00 appeared first on FinanceBrokerage.

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