4-Hour Analysis:
Big Picture: The aggressive sellers have broken through the range lows, resulting in yet another powerful selling spree. Price attempted to defend the range lows during the previous couple of hours, but failed since buyers remained quiet and failed to initiate any aggressive activity. The selling are anticipated to stay aggressive now that a crucial level has been breached.
On the Upside before additional selling, the price may retest the lost supports. The 19.70 level is likely to provide strong resistance, followed by the 20.10 to 20.60 range. This zone is expected to limit any retest and to induce fresh selling pressure once again.
On the Downside Lower-time frame range lows have been broken, while closing the daily session below 20.30 would provide additional confirmation. Solana is once again on aggressive selling spree and is aiming for lower supports. Price is now exposed to levels of 18.80 to 18.50, followed by 17.40. Furthermore, any push back into the prior range lows will be sold off again.
