Solana and Cardano: Cardano in consolidation for two days

<div><img width="1200" height="675" src="https://www.financebrokerage.com/wp-content/uploads/2022/09/Solana-3.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Solana" decoding="async" loading="lazy" /></div><h1><b>Solana and Cardano: Cardano in consolidation for two days</b></h1>
<ul>
<li aria-level="1">The price of Solana rose to the $89.59 level this morning, forming a three-day high there.</li>
<li aria-level="1">Cardano&#8217;s price moved in a sideways consolidation in the 0.465-0.480 range in two previous days.</li>
</ul>
<h2><b>Solana chart analysis</b></h2>
<p>The price of Solana rose to the $89.59 level this morning, forming a three-day high there. The price stopped there, and the additional pressure in that zone created the EMA200 <a href="https://www.financebrokerage.com/moving-average-envelopes-how-to-use/">moving average</a>. After which we see a pullback to the $87.00 level, forming a daily low. We are now holding above but moving to the $89.00 level in a limited range. We need a stronger impulse that would move us to the $90.00 level and above the EMA200. Potential higher targets are $91.00 and $92.00 levels.</p>
<p>For a bearish option, we need the formation of a new low below the $87.00 level. This would give us confirmation of the bearish momentum to start a further pullback. The next potential support zone is around the $86.00 level. A break below would further pressure the price and send it even lower. Potential lower targets are $85.00 and $84.00 levels.</p>
<p><a href="https://www.tradingview.com/x/6e8k9lK6/"><img decoding="async" loading="lazy" class="aligncenter wp-image-255904 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/6e8k9lK6-1024×598.jpg" alt="Solana chart analysis" width="1024" height="598" /></a></p>
<h2><b>Cardano chart analysis</b></h2>
<p>Cardano&#8217;s price moved in a sideways consolidation in the 0.465-0.480 range in two previous days. We can&#8217;t break the 0.480 level and continue the recovery. We need a positive consolidation that would move the price above the resistance zone and thus form a new three-day high. Potential higher targets are 0.490 and 0.500 levels. EMA200 moving average is in the zone around 0.500 levels.</p>
<p>We need a pullback to support a bearish option at the 0.465 level. New pressure could easily lead to a breakout below and the formation of a new low. This confirms the bearish option, and we expect to see a continuation of the pullback to lower levels. Potential lower targets are 0.460 and 0.450 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-255905 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/v5u5gAw9-1024×598.jpg" alt="Cardano chart analysis" width="1024" height="598" /></p>
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