4-Hour Analysis:
Big Picture: The volatility in Solana’s recent sessions has risen. Profit-taking continued quite strong in yesterday’s session, allowing it to break even with the immediate supports before registering a solid comeback. Furthermore, the falling wedge has been penetrated with reasonable strength, and if bulls can retake the major upper resistances, the current drop below intra-day supports is likely to be interpreted as a possible deviation which could drive the next bullish round.
On the Upside tshe session’s primary resistances are at 110.35 and 111.50 levels. If Solana can break over these levels with strength, the upside might extend into the 114.90 and 115.20 levels next. Meanwhile, for a strong bullish continuation and re-test of recent highs strength above 118.00 remains critical.
On the Downside The previous support levels of 103.80 to 102.50 have been restored. These will be the primary support levels once again, but the much stronger supports for Solana are now at 98.75 and 92 to 91 levels. Meanwhile, if bulls can re-establish 103.80-102.50 levels as significant supports, the upside is likely to be favored.
