Price Analysis

Cardano(ADA) & Solana(SOL) Price Eye’s Top 5 Spot! Will They Succeed Before the End of April 2022?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Apr 18, 2022

news-image
Highlights

    Cardano price witnessed a severe drain since the early trading hours which dragged the price below $0.91

    On the other hand, Solana price rally was also flipped by the bears which squeezed out the profits and dragged the price below $100

Cardano (ADA) Price 

Cardano‘s price continued to swing within the descending trend that it ignited during the recent rejection at $1.2. Forming constant highs and lows, the asset is discovering new support each and every day. However, as Coinpedia reported earlier, the ADA price could continue to plunge until it reaches $0.77. From here the price may take a steep U-shape recovery to regain the levels above $1 soon. 

adaprice

The ADA coin price after the fresh slash, sliced through the descending triangle and currently consolidating within a narrow range. Recording a steep drop and an extended consolidation, the asset is trending within a bearish flag structure, which is further primed for a notable drop. Therefore, after a couple of consecutive bearish flags, the asset is on the verge to form another bearish flag. This may end up the asset reaching the lower support closer to $0.77. 

Solana (SOL) Price 

The Solana price after a brief consolidation below $100, spikes high to reach $140. However, the price currently is slashed below the pivotal levels at $105.99 which opens up a clear case of a bearish trend. Following a descending trend, the SOL price may form constant lower highs and lows and eventually reach the pivotal support at $80. 

solprice

The volume also jumped of let despite the price being slashed hard, which indicates the interest of the traders prevails. The SOL price is trending within a descending parallel channel and hence the price may undertake a steep drop to reach the lower support close to $80. Here one can be expected a significant jump but however, but the strength of the rally may have faded drastically. 

Collectively, both Cardano (ADA) price and Solana (SOL) prices are heading towards their respective lower supports. And hence the asset may hit the support and ignite a notable uptrend ahead. However, the flip from these levels may validate the positions as Solana appears to be a little strong compared to that Cardano at the moment. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button