1-Day Analysis:
Big Picture: Solana’s session yesterday concluded with a long-legged Doji, indicating hesitation near the support levels. On the bright side, the EMA-200-based level held for another session and is now driving a little rebound higher. However, the reaction remains slightly weaker than expected, necessitating attentive risk management for both parties as price could flare up on either side.
On the Upside Solana could ignite some fresh excitement if it trades over the 22.40 to 22.60 area. These levels have been restricting Solana’s course for recovery. Holding above 22.60 will be a positive indication for the bulls, who might then aim for 23.50 to 23.80 levels in the immediate term. However, for that to happen 22.60 remains pivotal.
On the Downside The intraday zone, as well as the EMA-200 level, remain consistent. This supporting range is quite important for the session. If sellers are to see additional price declines, breaching this supportive EMA-200 is critical. Only then will they be able to reopen the lower supports ranging at 21.20 and 20.30.
