SOL-“Momentum Continuation Needed”

4-Hour Analysis:

Big Picture: SOL is likewise caught between significant supports and resistances. However, it is currently slowly gaining momentum, and confirmation for that may be seen above the 113.50 level. Holding above that level will send SOL back into bullish territory, aiming for higher levels in the following days.

On Upside the first level of resistance for the day is 108.20. The next important resistance level is 111, followed by 113.50. A clean break over these intraday resistances is likely to start a new bullish wave that will take BTC to the 118 zone. This is where the EMA-200 may be found on a daily basis, making it another important level to overcome.

The Downside remains same with several strong supports between 106-104.50 range. Maintaining this level will give prices a significant lift. If this range collapses SOL is then likely to re-test the 101-100 area. Losing 101-100 range won’t be a good sign, exposing SOL to 95-90 potentially.