4-Hour Analysis:
Big Picture: Price has been clinging to the mid-range level for past several candles. If a push back to the upside is desired, it should occur over the next several hours, otherwise sellers will attempt to break through this support level. Buyers have managed to hold onto this level, but a strong reaction is needed to overcome intra-day selling pressure, and once again aim higher intra-day resistances.
On the Upside yesterdays, strength over 24.25 was short-lived. After being denied at 24.50, the price went below this resistance level. Solana is beginning to see intra-day congestion between 24.25 and 25.00 levels. Buyers are expected to experience significant challenges between this zone. But, breaching these would allow for another price surge, targeting 26.10 and 26.55 levels.
The Downside the mid-level is still providing solid support in combination with the EMA-100 at 23.40. Price has survived multiple tests at this level, indicating that selling has been successfully absorbed in this zone. Yet, price must show strength and break above intraday resistances to confirm it. And besides that, if the price falls below the 23.40 mark, fresh selling will follow, exposing Solana lower into the 22.50 and 22.15 levels.
