4-Hour Analysis:
Big Picture: Solana was relatively slow throughout the day. However, the coin’s trend remains unchanged as it continues to decline within a falling channel. With uncertain momentum, any further aggressive sell-off could backfire on the sellers, resulting in a significant intra-day reversal fueled by aggressive short-covering. As a result, caution is urged.
On the Upside the initial resistance remains the same at 35.50, followed by 36.40 and 37.70. If these levels are exceeded, the price will move towards 38.40-39.20 and then to 41.10-42.30. To be back in the neutral zone, Solana would need to be above 41.10-42.30.
On the Downside Supports of 33.70 and 32.40 are adequate. If Solana tests this range again without any corrective upside, there is a good probability that bulls will come in aggressively. As a result, these supports can be extremely dependable; nevertheless, if they are breached, the downside will continue towards 31.10.
