SOL-“Play the Levels”

2-Hour Analysis:

Big Picture: As recently indicated, pricing was in favor of re-testing higher levels once Solana acknowledged the intra-day support levels. It is still trading in the 22.20 to 26.50 area. Solana is expected to provide movements on both sides as long as this range stays relevant.

On the Upside When Solana gained acceptance above the 23.45 level, price quickly moved into the 24.26 level. Solana got a fine reaction off this level, resulting in intraday profit-taking. Price now faces intraday resistance at this level. If buyers can climb over this level and maintain it with strength, a move back into 24.90 is still possible.

On the Downside price has intraday supports ranging from 23.65 to 23.55. These are lower time-frame re-test levels that are expected to offer intra-day support to the price. Price will retest recent highs at 24.26 if these levels are sustained. On the other hand, if these intra-day supports are breached, price could return to the lower intra-day supports between 22.55 to 22.15.