SOL – “Expect Volatility”

2-Hour Analysis:

Big Picture: The converging triangle breakthrough pushed SOL up to 84.50.. Now going forward this level has been restricting further. SOL needs to break above this level to trigger further upside towards 90. This is where EMA-32 rests. Reminder that this EMA has been the trend driver for SOL. So this makes the level crucial for future movements of SOL.

On Downside at 81.80, the initial level of support is observed. If this is lost, the intra-day support of 78.60 will be reopened. If the price goes below these supports, SOL will most likely target the 75.45 level again. The following key supports below this level are 72, 68, and 62. 

The Upside for the most part, still remains totally unchanged with the initial intraday resistance level at 84.40. However for rest 90 is still the key significant resistance level. There are multiple confluences at 90 which makes of great importance.  If this breaks, there will be greater space for expansion. However, between 92 and 98, there are various resistances, making this a challenging zone for SOL. The levels to beat for bullish continuation are 104.50 and 110.