SOL-“Bullish; But Short of Hyper Aggression”

12-Hour Analysis:

Big Picture: Solana has reached its highest levels since January 2022. Solana has broken out of the cup and handle shape, nevertheless although it has been going higher, but it lacks excessive aggressiveness. The Relative Strength indicator has yet to demonstrate any dominating activity above the overbought region, implying that despite bullish conditions, Solana is still missing in super aggressiveness.

On the Upside Solana has been able to overcome many important resistances in recent sessions. Solana will see significant resistance development between 153 to 158 levels during the session. Although there are additional intra-day resistances in the region around 154.80 and 156.25, however 153 and 158 remain significant ones.

On the Downside the supports have positioned themselves between 144 to 140 levels. This range also provides protection from the dynamic level of 12-hourly EMA-12. Holding this range will be a significant lift for the bulls since it could enable them to move from bullish to aggressively bullish. Any retests of this range must hold; else, the price may expose itself towards 134.50 next.