Solana and Cardano: Solana fights to stay above 22.00

• The price of Solana continued its bullish consolidation this week as well.
• The price of Cardano continues its two-day bullish consolidation with the formation of a high at the 0.2940 level.

Solana chart analysis

The price of Solana continued its bullish consolidation this week as well. We are currently very close to reaching the 22.46 level, the previous July high. If today’s consolidation continues, a break above could happen soon. This would mean forming a new higher high, with 22.75 and 23.00 levels as potential higher targets.

We need a negative consolidation and pullback to the 21.50 level for a bearish option. Thus, we would take the first step towards the bearish side. This could increase the bearish pressure on the price, and the potential lower targets are the 21.00 and 20.50 levels. Additional support at the 20.50 level is provided by the EMA50 moving average, where the pullback could end.

Cardano chart analysis

The price of Cardano continues its two-day bullish consolidation with the formation of a high at the 0.2940 level. The current consolidation tells us that a break above and the formation of a new higher high could happen. The price has support in the EMA50 moving average, which can be characterized positively for the continuation of the recovery. Potential higher targets are 0.2960 and 0.2980 levels.

We need a negative consolidation and price pullback below the 0.2860 level for a bearish option. Then we would fall below the EMA50 moving average and strengthen the bearish option. Potential lower targets are 0.2840 and 0.2820 support levels. The previous time in that zone, the price of Cardano managed to consolidate and start a new recovery.

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