SOL – “Strength Persists”

1-Day Analysis:

Big Picture: Solana maintained its strength throughout yesterday’s session, but fell just short of closing back within the macro-range. Furthermore, it is attempting to re-enter the range once again. The sooner price accomplishes this, the faster it will develop strength. Further failures, on the other hand, would reduce the momentum and allow for another re-test of the supports.

On the Upside Solana has reclaimed control above the EMA-50. This is a positive development, but it now need consecutive daily closings above 37.40. Doing so would open higher targets for the price at levels of 39.20-40.40 followed by 41.10-42.30.

On the Downside 37.40 to re-establish itself as the days opening support. The next level of support is the daily EMA-50 level at 36.50. Below this level, 35.40 represents the next level of support. These are strong levels of support for the session and any re-test of these levels is likely to attract fresh-buying.