Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

Solana and Cardano: Solana breaks yesterday’s support

Solana and Cardano: Solana breaks yesterday’s support

The price of Solana fell this morning to $165.90. 
Cardano’s price failed to hold above the support at the 0.400 level last night. 

Solana chart analysis

The price of Solana fell this morning to $165.90. Yesterday’s strong bearish consolidation pushed the price to a new weekly low. The fall has stopped for now, and we see a slight recovery at the $169.00 level. We need a continuation to continue on the bullish side and rise above $172.00 if we want to return to the positive side. With the new bullish consolidation, the price will have the opportunity to go back up to the EMA 200 moving average and the $178.00 level.

With that step, we are moving into the previous movement zone, and with the support of the EMA 200, we can strengthen the bullish momentum. For a bearish option, we need a negative consolidation and a test of this morning’s support level. This time, we could see a break below and the formation of a new weekly low. Potential lower targets are the $164.00 and $162.00 levels.

 

Cardano chart analysis

Cardano’s price failed to hold above the support at the 0.400 level last night. A strong bearish consolidation followed and a drop to the 0.390 level. We tried to stop there this morning, but the momentum took us down to a new low at the 0.379 level. The pullback was stopped at that level for now, and the price has recovered to the 0.387 level. In the last few hours, we have had a slight positive movement in the price, which could influence us to see further recovery by the end of the day.

Potential higher targets are 0.390 and 0.395 levels. With the rise to 0.395, we will meet the EMA 50 moving average. With a move above its line, we get its support for a further continuation to the bullish side. For a bearish option, Cadrano’s price would have to revisit this morning’s support zone. The impossibility of holding there would push the price below and thus form a new weekly low. Potential lower targets are 0.375 and 0.370 levels.

 

The post Solana and Cardano: Solana breaks yesterday’s support 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

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.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 smartsuccessstrategy.com