4-Hour Analysis:
Big Picture: Solana is currently holding at crucial breakthrough levels. Price continues to oscillate around the breakout levels, waiting for any further momentum to call upon a stronger breakthrough in the coming hours. The RSI indicator is seeking for a similar breakout above the channel barrier, which would further confirm the bullish momentum.
On the Upside Solana has climbed back towards 102-103 levels. These are the session’s major and important resistances. The channel resistance appears at this level as well as the horizontal level, which has not been successfully overcome since January 5th. Solana’s move over 103 would take it towards 105.50, followed by 107.50, with more upside potential towards 112 and 118.
On the Downside the session’s primary support levels for Solana are 98.50 and 97.70, respectively. Holding these levels would improve Solana’s prospects of a bullish breakthrough even more. Meanwhile, if sellers want to disrupt this growing momentum, a breach below 97.70 would be essential. A fall below 97.70 would result in a drop down towards 95.20 and potentially 93.70.
