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Explore Solana’s Price Dip to $93.04: What Lies Ahead?

solana

Explore Solana’s Price Dip to $93.04: What Lies Ahead?

  • The price of Solana slipped to $93.04 yesterday.
  • Yesterday’s attempt of the Cardano price to move to the bullish side was stopped at the 0.505 level.

Solana chart analysis

The price of Solana slipped to $93.04 yesterday. This created a new low for this week. After finding support at that level, we saw a recovery and a rise above the EMA200 to the $98.00 level. We stop there, and Solana starts a new retreat. Today’s price low is $95.00; for now, we are holding slightly above it at the $95.20 level. Too much pressure in this zone could lead to a breakout below and the formation of a new daily low.

Potential lower targets are $94.50 and $94.00 levels. For a bullish recovery of the Solana price, we need to move above $97.00 and the EMA200 level. This would bring us back to the previous resistance zone at the $98.00 level. New pressures could have a positive effect and move us above. Potential higher targets are $98.50 and $99.00 levels.

Solana chart analysis

Cardano chart analysis

Yesterday’s attempt of the Cardano price to move to the bullish side was stopped at the 0.505 level. There, we encounter resistance and start a pullback by breaking the previous support and retreating to the 0.478 level. This created a new two-week price low. Currently, we are still in the support zone, moving just above the 0.480 level.

If we manage to hold above, we could see the initiation of a bullish consolidation. Potential higher targets are 0.490 and 0.495 levels. EMA200 is an additional resistance for us around 0.500 levels. Since we are already on the bearish side, we need a break below the previous support to form a new price low. Potential lower targets are 0.475 and 0.470 levels.

Cardano chart analysis

 

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