SOL-“Lower Supports Could be Retested”

1-Day Analysis:

Big Picture: Price started a strong intraday recovery after buyer’s reclaimed control above the 13.10 level. Previous reports emphasized this recovery. However, momentum may be slowing now that Solana is about to test and is testing aggressive EMA’s. Price is likely to encounter some resistance from these and may even retest lower intra-day supports.

On the Upside the price almost tested 15$ level. However, it experienced a strong rejection at that resistance level. Solana’s initial resistance for the day remains at 14.50, followed by 15.00. These are going to be difficult levels to break. Regaining control above 15.00 can propel Solana towards 16.30 and 17.70.

On the Downside a reintroduction of multiple intraday supports at 13.80-13.50 levels. The next intra-day support level is at 13.10. Both of these are likely to keep prices in check for the course of the session. If this level is breached, Solana is likely to fall back to 12.60-12.40 levels, and possibly even lower towards 11.85.