4-Hour Analysis:
Big Picture: Bulls have been actively challenging the range top congestion zone over the last few days, and a potential inverse head and shoulder pattern for Solana can be seen on the lower time frame. If bulls can hold this pressure and gain acceptance above, Solana can quickly turn the tides in bullish favor, aiming for recent highs and potentially new yearly highs as well.
On the Upside Solana’s upward potential is currently limited at 63.95 and 65.30 levels. Meanwhile, if bulls can break through above these resistance levels, Solana might see another rally towards 68.20 and 70.00 levels.
On the Downside 61.90 and 60.90 are once again providing solid price support. The 4-hourly EMA-50 is also positioned between these levels. If bulls can maintain these levels, the surge higher gets more likely. Meanwhile, the next active supports for Solana are at 59.50 and 59.15.
