SOL-“Play the Levels”

2-Hour Analysis:

Big Picture: Solana eventually tests intra-day support levels and responds positively to it. The range lows have been tested again, and sustaining these levels will revert back price towards the mid-levels. Sellers should be careful and avoid shorts, unless price falls below these supports, as the next logical move favors a re-test of higher levels.

On the Upside Solana is first re-pushing towards the 23.45 level. This is where the initial resistance is expected. The next level of resistance visible above this is at 24.25, followed by 24.90. Moving the price over 24.25 will assist in the development of positive momentum.

The Downside remains the same with 2-hourly EMA-250 as initial support. The last several tests on this EMA have resulted in favorable findings. The next support zones below this EMA are at 22.50 and 22.15. With the exception of one exception, these price supports have effectively held. These support levels held price fairly well and are expected to continue offering a solid support.