4-Hour Analysis:
Big Picture: Solana has been trading between the range lows and range mid-levels during the previous few weeks. Price failing on several mid-range attempts is likely to drive Solana into the range lows, where another response is likely. Traders should preferably play this level to level as long as the range between 26.50 and 20.00 levels remain valid.
On the Upside Solana is encountering primary resistance at the 21.20 level. The session’s next resistance is at 21.80, followed by the crucial resistance zone at 22.05 to 22.15. Strength over 22.15 is required for buyers to regain lost momentum.
On the Downside for the time being, Solana is exposed towards the support level of 20.60. This is a solid intra-day support level for Solana. However, below this level, the price has range low supports ranging from 20.30 to 20.00 levels. These are critical levels of support for Solana. If price breaks through these supports, it could initiate a major sell-off targeting 19.20 level followed by 18.50 levels.
