4-Hour Analysis:
Big Picture: Buyers are continuing to take advantage of the strong trend and have targeted a number of more resistances above. Strength over the midpoint has made it easier for the price to rise further. Currently, the range highs remains open and insight for the bulls.
On the Upside Solana has made further advance after regaining control above the mid-point, reaching the resistance level of 24.25. However, due to profit-taking pressure, the price has not yet surpassed above it, but if bulls break through this barrier, they are expected to target the 25.00 level next, followed by the 25.30 level.
On the Downside the midpoint level of 23.40 has now been effectively converted to a support level. Going ahead, Solana will continue to be exposed to range highs as long as price remains above the midpoint. The mid-point is now a critical level of support. However, if the price goes below the mid-region, which seems unlikely for the time being, Solana will attempt to re-test lower supports initially at 22.80 followed the 22.15 to 22.05 support levels.
