SOL – “Immense Reaction”

4-Hour Analysis:

Big Picture: Daily support produced a rapid and powerful reaction, indicating that bulls would not give up control of this massive zone without a fight. SOL is currently challenging the confluence of falling resistance and the EMA-50 4-Hours at 92, indicating partial profit-taking is likely and healthy. Pushing over 92, on the other hand, would open 96 in the blink of an eye, followed by 100.

On Downside the initial intra-day support for the day is located at 88, followed by 85.50. The daily support level of 80.80 is still holding firm, but a break below it leads to 77-72 and then 65.

 On Upside the intraday hurdle is at 92, with levels of 96-100 following right after. Sustaining above 100 would open the range between 100-110 level.