SOL-“Profit-Taking on Strength Advised”SOL-

1-Day Analysis:

Big Picture: The bulls’ momentum on Solana remains dominant. Price was able to push for a 30-Percent gain during the previous two trading sessions owing to strength over 57.00 level. Solana is predicted to continue providing similar big intraday moves in the near-term. Meanwhile, short-term drops are being swiftly bought.

On the Upside price had a strong session yesterday, but testing the resistance level of 66.90 resulted in some intra-day profit-taking. This was also the level that stopped yesterday’s powerful push higher. Given the prevailing strength, any signals of strength over 67.20 will take Solana towards 70.00, followed by 74.20 and 77.65.

On the Downside the 63.10 level has excellent support. Maintaining this support will keep the present momentum rolling. Meanwhile, any drops below 63.10 will push the price lower, retesting lower support around 61.40, followed by 60.80. The price is likely to respond strongly again at these lower support points.