• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Stock

Solana and Cardano: Cardano price continues to retreat

by September 4, 2024
written by September 4, 2024

Solana and Cardano: Cardano price continues to retreat

The price of Solana was in a strong bearish consolidation yesterday, which this morning created a new weekly low at the 122.30 level
A strong bearish impulse pushed the price of Cardano to a new weekly low at the 0.306 level this morning

Solana chart analysis

The price of Solana was in a strong bearish consolidation yesterday, which this morning created a new weekly low at the 122.30 level. Shortly after that, we saw a break to the $126.00 support level. The price continued to rise to $131.50, where it formed a new daily high. For now, we encounter resistance here and turn to the bearish side again. If we manage to stay above the weekly open price, it would mean a lot for a possible recovery to the bullish side.

If Solana manages to move above the EMA 50 moving average, it would strengthen the bullish position. Potential higher targets are the $132.00 and $134.00 levels. For a bearish option, we need a price pullback below the weekly open level. With that, we move again to the bearish side and will be under pressure to create a new low. Potential lower targets are the $128.00 and $126.00 levels.

 

Cardano chart analysis

A strong bearish impulse pushed the price of Cardano to a new weekly low at the 0.306 level this morning. Shortly after that, we saw a retracement above 0.320 and the daily open price. Cardano managed to continue to 0.325 and forms a daily high there. We didn’t have the strength to continue, and the price began to retreat below the 0.320 level again. Such a picture could trigger a stronger bearish consolidation with the aim of creating a new weekly low.

Potential lower targets are the 0.310 and 0.300 levels. For a bullish option, Cardano needs to stabilize again and return to 0.325. There, we will try to break the EMA 50 moving average and get its support. If we succeed in this, the price should start a bullish consolidation and visit higher levels. Potential higher targets are the 0.330 and 0.340 levels.

 

The post Solana and Cardano: Cardano price continues to retreat appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
NFL season expected to spur record $35 billion in legal sports wagers
next post
SafeMoon and Litecoin: Litecoin at the door of a new high

You may also like

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Kraken Rolls Out Commission-Free Stock Trading

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • Semtech Showcases Next-Gen LoRa® Technology at IoT Solutions World Congress 2025

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Categories

    • Economy (679)
    • Editor's Pick (348)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick