SOL-“Multiple Supports”

1-Day Analysis:

Big Picture: SOL is going to return to the demand zone. Fresh-buying and aggressive short-coverings are expected as a response. To remain SOL bullish in the short term, this daily demand must hold. If this is lost, the range lows in the 80-75 area will be exposed once more. This is, nonetheless, a good zone for risk takers.

The Upside 107.50 is the first point of resistance, followed by 113. The next degree of resistance comes at 118, which is followed by the 122 region. SOL would have to retrieve the EMA-200 on a daily basis. SOL will return to 127 and 130 if it can maintain a stronghold above 123. To open a way towards the falling channel resistance at 140, a successful breakthrough above 131 is required.

On Downside, This demand zone between 102 and 98 is crucial. To re-energize, SOL needs to hold onto this level and consolidate for a while. However, if the price falls below 98, the next two supports are 95 and 90.