Bullish Consolidation For Solana: Jump To $98.00 Level?

<div><img width="1200" height="675" src="https://www.financebrokerage.com/wp-content/uploads/2022/09/Solana-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Solana" decoding="async" loading="lazy" /></div><h1><strong>Bullish Consolidation For Solana: Jump To $98.00 Level?</strong></h1>
<ul>
<li aria-level="1">Over the weekend, the price of Solana was in retreat from $101.00 to $94.20 on Monday morning.</li>
<li aria-level="1">The weekend brought us a pullback in Cardano price from 0.525 to 0.488.</li>
</ul>
<h2><b>Solana chart analysis</b></h2>
<p>Over the weekend, the price of Solana was in retreat from $101.00 to $94.20 on Monday morning. With the new support, we start a bullish consolidation and jump to the $98.00 level. There, we form a new high, and the price begins to fall, sliding last night to the $94.00 level.</p>
<p>We successfully get support again, recovering to the $96.50 level. Today, we are under pressure from the EMA200 moving average, and if we plan to start a concrete recovery, we would have to jump over that resistance.</p>
<p>Potential higher targets are $98.00 and $99.00 levels. If there is an increase in <a href="https://www.financebrokerage.com/what-is-a-bearish-engulfing-candle/">bearish</a> momentum, the price would be directed towards testing the $94.00 level. It would increase the pressure on that zone for the third time in two days, which could negatively impact it. A break below would form a new weekly low and thus confirm the bearish presence.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-259195 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/02/xxZbt2ij-1024×598.jpg" alt="Solana chart analysis" width="1024" height="598" /></p>
<h2><b>Cardano chart analysis</b></h2>
<p>The weekend brought us a pullback in Cardano price from 0.525 to 0.488. As this week began, so did the price of Cardano recover. Yesterday, we saw a recovery to the 0.500 level. Additional resistance in that zone is the EMA200 moving average, which did not allow us to break above.</p>
<p>The price was forced into a new retreat, receiving support at the 0.487 level. Today, we are looking at Cardano movement in the 0.490-0.500 range.</p>
<p>For a bullish trend, we need a jump above the EMA200; after that, there is room for further recovery. Potential higher targets are 0.510 and 0.520 levels. A price pullback below 0.490 would negatively affect Cardano, reinforcing the bearish momentum. Potential lower targets are 0.485 and 0.480 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-259197 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/02/Dl9ztGNt-1024×598.jpg" alt="Cardano chart analysis" width="1024" height="598" /></p>
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