1-Day Analysis:
Big Picture: SOL took another rejection of EMA-32 Daily. This EMA acted as major support when SOL was bullish and is now acting as major resistance in this bearish price action. SOL has to turn this resistance once more into support to escape this selling pressure. However the demand level of 80-65 is still holding well for SOL.
On Downside Even after several testing, 80-81 remain a solid support. This demonstrates that there is still a demand in this area. However, if this support fails, we can expect 75-70-65 levels in the coming days. At these levels, expect aggressive short coverings.
The Upside the day’s early resistance is visible near 85, followed by a return to the 92-93 level. However, if price rises beyond these levels, we will most likely see 96 followed by 100-101 once more.
