12-Hour Analysis:
Big Picture: Solana has been steadily rising with intra-day consolidation rounds. Price has gradually absorbed a major selling pressure between the 153 to 158 range levels. Moving forward, the RSI indicator is now striving for a higher breakout. If that happens, the price is likely to see considerable impulsive momentum towards higher levels.
On the Upside 153 has hampered Solana’s greater penetration rate. Meanwhile, on lower time frames, the price has established a solid foundation to continue its upward movement. Bulls must overcome the 153 resistance level to move higher towards 154.90 followed by 156.20, and eventually toward 158. Stronghold over 158 allows for an exponential surge in price.
On the Downside the support levels remain valid at 149.80 and 149.20. Meanwhile, a minor intra-day support addition can be noticed around 151.80. If Solana maintains these levels, its momentum could get a significant boost. However, any break below 149.20 exposes the downside towards the base structure around 144 to 140 levels.
