SOL-“Recovery On-Going”

4-Hour Analysis:

Big Picture: The bullish checkmate pattern emerged, which then paired with the trendline breakthrough, gave bulls some intra-day momentum once again. Solana is climbing higher again, testing stronger resistances and maybe aiming for the recent highs as well. However, above recent highs, there are several weekly resistances that might force profit-taking or lead to another huge vertical push higher.

On the Upside Solana is approaching resistance levels 118 and 122. Both of these will be the key resistance levels for the session. These levels stay strong and might cause some significant problems for the bulls. Continuation over 122, on the other hand, leads price to recent highs as well as 128 and 132 levels.

On the Downside Solana’s freshly regained levels are now positioned as intra-day supports. Some protection at 112.80, with next intra-day supports ranging from 110.30 to 109.65. If Solana can maintain these levels, its bullish momentum will certainly strengthen. If this support is lost, the price would go down into the lower base levels of 102.45 to 101.50.