Connect with us

Hi, what are you looking for?

Economy

Solana and Cardano: Cardano makes a slight recovery to 0.423

Solana and Cardano: Cardano makes a slight recovery to 0.423

Solana’s new weekly high price was formed this morning at the $154.80 level. 
Cardano’s price has been in a bullish trend since the beginning of this week. 

Solana chart analysis

Solana’s new weekly high price was formed this morning at the $154.80 level. We managed to get past last week’s high. Now, the price is pulling back from this level, looking for support in the zone of the $146.00 level. Here, we are testing the weekly open price, and it is very important to stay above it if we want to see a continuation on the bullish side. Retracement above $150.00 we get support from the EMA50 moving average.

Potential higher targets are $152.00 and $154.00 levels. We need a negative consolidation and a drop to the $144.00 level for a bearish option. In that zone, we encounter the EMA200 moving average. In previous testing, we managed to stay above it. New pressure in that zone could create a bearish impulse and send us below. Potential lower targets are the $142.00 and $140.00 levels.

 

Cardano chart analysis

Cardano’s price has been in a bullish trend since the beginning of this week. That pushed the price up to the 0.423 level this morning. At that level we encounter resistance and make a pullback to the 0.410 level. Here, we encounter the EMA50 moving average and manage to hold above it. The current consolidation has resistance at the 0.420 level and we need an impulse above to return to the bullish side.

Potential higher targets are 0.425 and 0.430 levels. We need a negative consolidation and a drop below the 0.410 level for a bearish option. This moves us to a new daily low and below the EMA50 moving average. After that, Cardano will be under pressure to seek new support at lower levels. Potential lower targets are 0.405 and 0.400 levels.

 

The post Solana and Cardano: Cardano makes a slight recovery to 0.423 appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

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

    Editor's Pick

    Latest iteration of the Communications Service Provider (CSP) IoT Peer Benchmarking report from the world’s leading IoT analyst firm identifies the key trends shaping...

    Latest News

    Few congressional Democrats could muster a defense of President Joe Biden’s halting debate performance Thursday, opting instead to criticize former President Donald Trump for...

    Stock

    A bitcoin exchange that collapsed 10 years ago after being hacked is set to return billions of dollars’ worth of the token to users — and...

    Stock

    An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three...

    Disclaimer: Financetimereport.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 © 2024 Financetimereport.com