SOL – “Play the Levels”

12-Hour Analysis:

Big Picture: Solana is being restricted inside crucial levels. On the upside, 32.60 has limited gains, while on the downside, 30-30.50 has limited losses. This demonstrates that both buyers and sellers are working hard to keep their levels intact. To continue its trending move, Solana must break either side.

The Upside remains same with 32.60 limiting all upside moves. No candle has been able to close above 32.60 for the last 4 sessions. Furthermore, EMA-50 is also present in this region, making it even more significant. Above here, the next two resistance levels are at 33.30 and 34.50. To achieve higher targets, Solana must break through these levels, which have made it difficult for price to gather momentum.

On the Downside the supports are still standing. There are multiple intra-day and significant supports between 30.50 and 28.90. This area is predicted to continue holding pretty well and will not be easily broken. Unlikely, but if these supports are breached, Solana will likely re-test the June low of 26.05.