12-Hour Analysis:
Big Picture: Solana has been gradually rising, but now a huge bullish breakthrough from the bulls has started. The Relative Strength Index, which had previously taken extremely significant rejections from the 70 region, has now had a huge breakthrough after around 80 days. Bulls are now in strong shape, and with the current fresh momentum, they may be aiming for higher peaks.
On the Upside Solana’s strength over 158 has shifted the optimistic sentiment. This range of 153 to 158 was creating a halt in momentum; now that bulls have successfully flipped, they are in a far superior position. A number of resistances have been broken, and bulls are now looking for the 175.50 level initially, followed by 190 and 205.
On the Downside price adds an array of supports to its additions. Initial support is now anticipated around levels 167 and 164. Following this, the essential supports have been lowered to 158 and 152.80 levels. As long as Solana maintains its current price above 158, its upward trend is expected to continue. Furthermore, any downsides for the while could be treated as buying opportunities.
