SOL – “Strong Resistance at 90$”

2-Hour Analysis:

Big Picture: SOL is starting to show momentum once more. However stronghold above 90$ is needed to confirm this momentum. Failure to supersede 90$ will trigger profit-taking which is likely to expose SOL towards 84 and 80 once more initially.

On Downside 84 is the initial level of support. If this is lost, the intra-day supports of 80-78.60 will be reopened. If the price falls below these levels, SOL will almost certainly attack the 75.45 level once more. Below this level, the main supports are 72, 68, and 62.

The Upside is likely to remain unchanged unless 90 is taken out. This level will keep gaining significance unless bulls break above this level.  A successful break above this will allow greater space for expansion. However, between 92 and 98, there are various resistances, making this a challenging zone for SOL. The levels to beat for bullish continuation are 104.50 and 110.