SOL-“Narrow Range”

4-Hour Analysis:

Big Picture: Solana is presently trading at the 12.40 to 11.70 zone. The price is currently hanging in this narrow range. Price is expected to remain highly turbulent as long as it stays within this range. The next impulse will be determined by the range’s breakthrough.

 On the Upside There is a lot of resistance around the 12.40 level. The upsurge is being held back by both horizontal and dynamic resistances at this level. To have any space for the upside, Solana must find hold above this level. However, the next resistance levels are at 12.75 to 12.95, followed by 13.50. These levels will be accessible only if Solana achieves acceptance over 12.40.

On the Downside Solana is now protected from additional declines by the 12.05 level. The major support level however, is around 11.70. This will be an essential level for price to hold since failure to do so will expose Solana to the recent lows around 11 and maybe even lower.