SOL – “Daily Supports Approaching”

4-Hour Analysis:

Big Picture: Once the 110 support was breached, SOL lost its momentum and fell quickly towards the 4-Hour based Support zone. However price is still showing weakness and could likely test major daily support at 80.

On Downside First intra-day support is seen between 90-87. However any closing below this level is once again likely to open daily support at 80 followed by 65. These both levels are likely to trigger aggressive short coverings and potentially fresh buying’s.

On Upside first intra-day resistance is seen at 97 followed by 104.50. Moving forward bulls have to reclaim above 110 level to once more regain control of trend. Any closing above 110 is likely to pave path towards test of 4-Hour based EMA-200.