SOL – “Play the Levels”

12-Hour Analysis:

Big Picture: Another session of choppy price activity as Solana continues its thin price action. This narrow price movement is likely to persist unless one side gains the upper hand. To widen the ranges, Solana must either break through 33.30 or continue to be rejected from 33.30 and fall back towards the lower supports.

On the Upside the initial intra-day barrier remains at 32.60. For the previous several hours, this level has been limiting the upside potential. The next two resistance levels are at 33.30 and 34.50. Solana must break through these levels to achieve higher targets since these levels have made it challenging for price to develop any bullish momentum.

The Downside remains same with 30.50 as immediate support level. Multiple intra-day and significant supports can be located between 30.50 and 28.90. This region is expected to hold quite well. If these supports are violated, Solana will make a clean sweep of the June low of 26.05.