4-Hour Analysis
Big Picture: It was clearly mentioned that Profit-Taking was likely to be witnessed now. After failing multiple times to break the Supply levels, Bulls ended up losing the grip which triggered aggressive profit taking. However the profit-taking came stronger than expected and breached the major support of 98. This is something concerning and is signaling that Bears are still not ready to give-up. The current selling has once again exposed SOL into aggressive bearish territory.
On Downside 91-87 remains to be an important 4-H based support levels that could partially re-trigger short-coverings. However any closing below this will once again open the Daily based support at 80 followed by 65.
On Upside the first level of resistance is once more observed at 98 followed by 104. However re-claiming above these levels would once again open 110-115 which still remains to be the decisive for opening of further extended upside.
