4-Hour Analysis:
Big Picture: Bulls have managed to maintain the inverted head and should bullish price pattern. Bulls are currently in a strong position to initiate a potential breakout of this pattern, which would also receive confirmation from the RSI indicator. If bulls can pull off this breach, momentum may shift back in their favor, and they will be more inclined to strive for higher levels and possibly recent highs.
On the Upside Solana is beginning to go past the 102.30 resistance level and is now looking for 105.50, followed by 107.50. Both of these will provide significant challenges. Bulls would need further momentum and a firm hold over the pattern and trendline resistances to go higher into 112 and 114.50 levels, followed by 118 and 122.
On the Downside 98.50 is currently the session’s primary support level. The next level of support below this one is from 96.50 to 95.20. As long as Solana maintains these supports, its upside prospects are expected to improve. Meanwhile, successfully flipping past 102.30 will make this level a support as well.
