Connect with us

Hi, what are you looking for?

Income Innovator HubIncome Innovator Hub

Economy

Solana and Cardano: Solana recovers to the $178.00 level

Solana and Cardano: Solana recovers to the $178.00 level

Yesterday’s retreat of the Solana price was stopped at the $170.20 level. 
The price of Cardano fell to a new weekly low yesterday at the 0.403 level. 

Solana chart analysis

Yesterday’s retreat of the Solana price was stopped at the $170.20 level. After that, we consolidate in the $170.00-$174.00 range. This triggered a bullish impulse to the $177.00 level in the previous hour. With that, we moved above the EMA 50 moving average and got its support. Hopefully, we will have enough room to stabilize before we continue with our recovery. That would be great; potential higher targets are the $178.00 and $179.00 levels.

Otherwise, a bearish option requires Solana to pullback below $175.00 and the EMA 50 moving average. This gives us a picture that will form a lower high and confirm the bearish trend. At $173.00, we will test the daily open price, and if it does not hold, we will see a pullback to this week’s support zone. Potential lower targets are the $171.00 and $170.00 levels.

 

Cardano chart analysis

The price of Cardano fell to a new weekly low yesterday at the 0.403 level. After that, we saw consolidation and momentum up to the 0.420 level. Unfortunately, this is where we encounter resistance in the EMA 50 moving average and turn to the bearish side again. The price is now at 0.415 and facing the bearish side. Potential lower targets are 0.410 and 0.405 levels.

For a bullish option, the Cardano price would have to retrace above the EMA 50 and 0.420 levels. With new support, the price could continue its recovery. Potential higher targets are the 0.425 and 0.430 levels. Additional resistance in the 0.425 zone is at the EMA 200 moving average. Fortunately, with the support of the 200 EMA, the price would consolidate the bullish trend and could continue to grow to the bullish side.

 

The post Solana and Cardano: Solana recovers to the $178.00 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    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

    Source: Ark Invest / Instagram ARK Investment Management, led by prominent investor Cathie Wood, has reduced its holdings in the Grayscale Bitcoin Trust (GBTC)...

    Latest News

    A super PAC that has overseen much of Ron DeSantis’s presidential operation has fired its CEO less than two weeks after the previous chief...

    Stock

    Popeyes is expanding its menu beyond chicken sandwiches — and it’s a permanent change this time. The fast-food chain announced Wednesday it’s adding five...

    Latest News

    WINDHAM, N.H. — It’s pouring rain Saturday morning as New Hampshire Gov. Chris Sununu (R) arrives at Mary Ann’s diner in Windham, fielding calls...

    Disclaimer: Incomeinnovatorhub.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 incomeinnovatorhub.com