4-Hour Analysis:
Big Picture: Solana came extremely near to re-testing the mid-range levels and found itself in a similar strong momentum. The strength remains, but until the range breaks, it’s vital to approach it as a range-bound environment. Price being near to resistance levels could lead to in selling pressure. However, surpassing the breakthrough level would also trigger another expansion phase on Solana.
On the Upside 25.00 level has been again established as an intra-day resistance level for Solana. Strength back above this level would once again lead price towards the 26.10 to 26.55 levels. Solana has re-tested these resistances after a couple of months. Breakthrough above 26.55 will lead next towards 27.80 to 28.40 levels.
On the Downside the session’s immediate support is at 24.25 level. The presence of EMA-32 at this level will contribute to the strength of this support. Below 24.25, the next level of support is at 23.40, which is the mid-point and an important mark to hold for buyers to stay in control.
