Solana and Cardano: Solana slipped below $130.00 yesterday

• Last night, the price of Solana retreated to the $126.50 support level. 
• This week, the price of Cardano successfully tested support at the 0.440 level twice.

Solana chart analysis

Last night, the price of Solana retreated to the $126.50 support level. There, we fell to a new weekly low, from which we started a positive consolidation this morning to the $142.50 level. Solana returned to the $138.00 level in the last few hours and is looking for support in the EMA50 moving average. If he succeeds in this, we expect a break above the previous high and a jump to a new two-day high.

Potential higher targets are $145.00 and $147.50 levels. The EMA200 moving average is up around the $152.50 level. We need a pullback to the $135.00 support level for a bearish option. By falling below, we go to a new daily low and thus confirm the bearish momentum. Potential lower targets are $132.50 and $130.00 levels.

Cardano chart analysis

This week, the price of Cardano successfully tested support at the 0.440 level twice. Last night, we got support again at that level and started a bullish consolidation this morning to the 0.465 level. For now, we have resistance in that zone and are pulling back slightly to the 0.455 level. This could easily drag the price even lower if we continue to move at the current level.

Potential daily lower targets are 0.450 and 0.445 levels. We need a return above the 0.470 level and the EMA50 moving average for a bullish option. We are moving above the weekly open price, which increases the optimism for a recovery to the bullish side. Then, it is necessary to hold on there in order to wait for a new bullish impulse. Potential higher targets are 0.475 and 0.480 levels.

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