4-Hour Analysis:
Big Picture: Price slipped down into the mid-range after rejecting from the range top. Solana’s initial reaction from the mid-range was favorable. Additionally, maintaining the mid-range will continue to invite intra-day price bounces, while any breaks below the mid-range would open the lower range between 23.50 and 20.60.
On the Upside there is also slight resistance between 24.50. Above this level, the next level of resistance is at 25.00. Price can be pushed back into the range top around 26.10 to 26.55 if it shows strength above both of these intraday resistances. But, unless this range is broken, the upside is likely to be limited to these levels.
On the Downside Mid-level is developing into a strong support level. Both the horizontal and dynamic levels provide assistance to this level. Solana is expected to retain the 23.40 level throughout the session. However, any pressure buildup below this support would not be a good indication for buyers, as they will be exposed further below if this level of 23.40 is lost. The next supports below the midpoint are at 22.50 and 22.15.
