Solana and Cardano: Cardano is back above the 0.500 level

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2023/02/Cardano-e1684844389411.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Cardano" decoding="async" loading="lazy" /></div><h1><b>Solana and Cardano: Cardano is back above the 0.500 level</b></h1>
<ul>
<li aria-level="1">The price of Solana continues its recovery, climbing above the $100.00 level yesterday.</li>
<li aria-level="1">Over the weekend, Cardano’s price successfully crossed the EMA200 moving average barrier.</li>
</ul>
<h2><b>Solana chart analysis</b></h2>
<p>The price of Solana continues its recovery, climbing above the $100.00 level yesterday. Today, we are looking at a continuation with the formation of a new high at the $104.43 level. Solana could soon make a move above $105.00. The EMA200 moving average has been supporting us since last Friday. Potential higher targets are $106.00 and $108.00 levels.</p>
<p>For a bearish scenario, although it is not in sight, we need a pullback of the Solana price below the $100.00 level. That would be the first sign that Solana is faltering and there is an increase in <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-bearish-and-bullish-momentum/">bearish momentum</a>. In the following, we would watch the price drop and look for support at lower levels. Potential lower targets are $98.00 and $96.00 levels. The EMA200 moving average is in the zone around the $94.00 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-256991 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/TtLRsPX1-1024×598.jpg" alt="Solana chart analysis" width="1024" height="598" /></p>
<h2><b>Cardano chart analysis</b></h2>
<p>Over the weekend, Cardano’s price successfully crossed the EMA200 moving average barrier. We saw a rise to the 0.500 level and had enough room for consolidation to get support in the EMA200. That proved to be true yesterday, as in the afternoon, we saw a strong bullish consolidation and a jump in the price of Cardano to the 0.536 level.</p>
<p>This week’s low was formed there, and the price retreated slightly to the 0.530 level. Potential higher targets are 0.540 and 0.545 levels. We need a price pullback below the 0.525 level for a bearish option. In this way, bearish momentum would increase, and Cardano would have to retreat. Potential lower targets are 0.520 and 0.510 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-256994 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/m8QR3G00-1024×598.jpg" alt="Cardano chart analysis" width="1024" height="598" /></p>
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