4-Hour Analysis:
Big Picture: Solana kept the macro-range and has been pushing back higher. Despite a single outlier, this range has lasted remarkably well for almost 90 trading sessions. After gaining approval above the mid-range levels, bulls are aiming for the range highs once more. However, the range remains valid, but a potential breakout is now possible.
On the Upside Over the weekend, Solana was just shy of testing the range peak levels of 26.10 to 26.55. Solana’s price increase has been limited once more by the range highs. After 50 trading sessions, these levels are being exposed and may retain some selling pressure. If Solana breaks over the 26.55 level, it is expected to run higher into the 27.80 level, followed by the 28.40 level.
On the Downside further addition of support at the 25.00 level. Below this, the next support levels stay the same, with initial support at 24.25 and mid-range support at 23.40. As long as the mid-range holds, the short-term trend will favor bulls for an upward breakthrough.
