3-Day Analysis:
Big Picture: Solana starts a hyper move once more, and the hyper move, like previous moves, stays sustainable. Even in the higher time frames, price is progressively breaking through all resistances. The bulls are now setting up for a perfect weekly EMA formation, confirming that Solana has entered a strong bull phase in its trend. Meanwhile, as the price rises, Solana is now just a few points away from the 90s and monthly resistance levels.
On the Upside price may encounter slight resistance near 88.85, but the present trend seems to be heading for the 90s. Key resistance levels for Solana are at 92.10, 98.10, and 100. These greater bands of resistance are now the monthly resistances, which might cause barriers once again. Acceptance over monthly levels, on the other hand, expands the upside considerably.
On the Downside as the price continues to rise session after session, the support levels rise as well. Solana’s initial support is expected to be at 85.95, followed by 84.80 to 84.20. Both of these areas are likely to position themselves as key levels of support. The stronger supports, however, are expected to be a little lower at the 81.25 to 80.00 levels.
