4-Hour Analysis:
Big Picture: SOL failed in protecting 110 level and triggered intra-day profit taking that took price as low as 103.50 before finding support from Intra-day support levels. Now multiple supports are coming into play that can protect the fall however, a closing below 104 will open a fall towards 98-96 region.
On Downside First intra-day support is seen at 104 level followed by second support around 96-98 level. This level is important to protect for Bulls otherwise they can end up losing the grip over short-term trend.
On Upside first intra-day resistance is still observed at 110 level followed by 115. SOL needs to regain these levels to test EMA-200 4-H around 120. Climbing above EMA-200 would be a positive sign for bulls who are then likely to take on 4-H based supply zone. This is the level that Bulls need to surpass in-order to test their resolve at 132 and lead SOL towards a Higher Time Frame Breakout.
