SOL-“Falling Channel Resistance Crucial”

2-Hour Analysis:

Big Picture: Solana survives another session at the supportive range. Any active selling below these supports is attracting active bids and interests, but this interest has yet to give anything on the continuation. This demonstrates that sellers presently have the upper hand, but buyers are prepared to defend the lower supports. Between these levels, the price might become choppy and volatile.

On the Upside if price can break above the falling channel barrier, a reaction will occur. This might neutralize the selling pressure and lead to a reversal to the 22.15 to 22.50 levels, with more upside potential if this resistance level is recaptured.

The Downside remains the same with supports at 20.60 and 20.30. This supportive region is currently holding onto the prices. As long as price holds this region the downside remains protected. Any pressure buildup below these supports can quickly lead a fall into 18.55 to 17.40 levels.