Coin News

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

18 Apr, 20222 min readAltcoins
Cardano(ADA) & Solana(SOL) Price Eye’s Top 5 Spot! Will They Succeed Before the End of April 2022?

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.

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. Therfore, 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.

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.

Source

Subscribe to get our top stories

Coin News
App StoreApp Store