SOL-“Profit-Taking Strength Advised”

4-Hour Analysis:

Big Picture: Solana is witnessing great response near to the range low levels once more. Such a scenario was highlighted previously. Price is experiencing some significant short-coverings. Furthermore, if Solana regains acceptability above the intra-day resistances, an immense round of fresh buying could happen. Keeping the current conditions in mind, profit-taking on strength remains an effective approach.

On the Upside Solana is attempting to break beyond intraday barrier levels of 22.05 to 22.15. These are critical levels for Solana to surpass in order to unlock more upside potential. Strength exceeding 22.15 accesses the 22.50 level, followed by 22.80. Above them, the next barrier comes in the shape of a mid-level at 23.40.

On the Downside price may try to retest the 22.05 level as support. If this happens, the session will have a considerably smoother upward trend. If these levels fail to overturn as supports, expect intraday profit-taking to begin in, driving the price back into lower supports. Below 22.05, the next level of support are at 21.50, followed by 21.30 to 21.20 levels.