12-Hour Analysis:
Big Picture: Solana stayed bullish throughout the session and is now testing the falling channel barrier. The prior support levels did a good job of holding Solana, but it now has to break through the channel resistance and retake EMA-100 in order to get some sustainable momentum. Unless and until that happens, upward surges will continue to be sold off.
On the Upside the trendline resistance is continuing to fall. It is now existing at the level of 31.20. A break above this level may quickly drive Solana to the next upward objective at 33.40, where the 12-hourly EMA-100 is visible. Momentum continuation over this EMA would be a remarkable achievement for the bulls, which would then allow them to push for higher levels.
On the Downside 30.50 to serve as an intra-day support level. Following that, the next support levels stay same around 29.98-28.90. If Solana breaks through the trendline resistance, these levels will be reaffirmed as powerful supports. Although it is improbable for the session, Solana will most certainly try for the June lows if these supports are once again overridden.
