SOL – “Profit-Taking Advised on Strength”

12-Hour Analysis:

Big Picture: Solana had a mixed session yesterday, with neither force gaining an advantage. Sellers limited the upside around the EMA-100, while buyers ruled out any possibility of a huge profit-taking event. Unless Solana begins to show strength above the EMA-100 level, the session could be choppy.

On the Upside Solana kept on taping the EMA-100 level but faced no-success. This level remains as day’s initial resistance. Following this the next resistances are evident at 34.40 followed by 35.20 and eventually 37.40.

On the Downside the initial support level is 30.80. The major support levels are located between 29.98 and 28.90. These are significant supports for Solana, which will keep the price protected against any hyper selling. Expect fresh buying on these levels.