SOL-“Play the Levels”

4-Hour Analysis:

Big Picture: Solana shown incredible strength over the weekend. It nearly went on to reclaim the mid-range level at 23.40. However, the momentum at the top was short-lived, forcing the price to take profits once more. Solana is still trading inside its three-month consolidation zone. Traders should preferably play this range both sides level to level as long as it stays valid.

On the Upside for Solana the initial round of resistances are at 22.40 followed by 22.80. Surpassing 22.80 would once again lead towards the mid-range at 23.40. This level however, remains essential to be reclaimed for Solana to open any further upsides.

On the Downside Solana has returned to the supporting range of 22.15 to 22.05. A significant drop has been halted at these supports. These supports are expected to provide sufficient support for the remaining of the session. However, losing this supportive region will cause the price to fall further into 21.80, followed by 21.30 to 21.20 levels.