12-Hour Analysis:
Big Picture: Solana continues to have a very strong breakout structure, however after several attempts to gain momentum, it has failed to do so. Bulls are once again making a major push higher, but they will need steady volumes and momentum to push Solana back into hyper bullish area. Failure to attain sustained momentum would result in a slowdown.
On the Upside Solana’s potential to maintain price over 132.30 is helping to build momentum. However, price is presently encountering resistance at the 142.80 level, which previously restricted upside potential. A strong hold around this level could lead the price to break beyond 144.95 level and move higher towards 148, and then 152.
On the Downside Solana has received fresh supports from 137 and 133.40 levels. Below these level the next support is from the 132.30 level, which must be held if bulls are to continue their momentum. These levels are expected to give adequate assistance throughout the day. Any push back below 132.30 is expected to result in a lower push back to 126.40 to 124.30 levels.
