SOL-“Play the Levels”

4-Hour Analysis:

Big Picture: SOL is also in a decline, and it has been taking support at the 98.85 level for a few days now. SOL must break and stay above the falling trendline resistance at 104.40 in order to reverse its downward trend. As a result, SOL would be partially pushed out of the bearish trend and into neutral area, halting further losses.

On Upside The initial resistance level is 104.40, which also serves as a possible breakout level. Following that, we have the next resistance level at 106.50, which is marked by the EMA-50 daily. Bulls are likely to find it difficult to break through this level. A successful break and hold above this level will take price towards 109-110, followed by 113-115.

On Downside, The primary support region that has been maintaining the price now is 98.85. If this is lost, the price would fall further, approaching 95 and 90, respectively in coming sessions.