1-Day Analysis:
Big Picture: The supporting range between 20.25 and 19.65 is establishing a solid foundation for Solana, but this base requires Solana to break through the congestion zone above in order to turn the trend back in favor of bulls. Unless and until that happens, Solana will remain within the 22.10 to 20.00 area. Furthermore, the upper resistance is equally powerful, thus buyers are having great difficulty overcoming these levels.
On the Upside Solana almost retested the range levels of 22.15, but price failed to break beyond this barrier. Solana is confronted with many significant resistances between the levels of 22.15 and 22.80, resulting in massive congestion between the levels. The initial resistance for the session will be at 21.90, followed by 22.15 once again. Furthermore, all of the main dynamic EMAs are present in this band.
On the Downside Solana will get intraday support between 21.30 and 21.20. These will be the primary supports for the sessions. If Solana falls below this supporting range, it will most certainly fall towards 21.00 and possibly 20.80, which are the remaining strong supportive levels before the major supports at 20.25 to 19.65.
