SOL – “Strong Supports Approaching”

12-Hour Analysis:

Big Picture: Solana after finding multiple intra-day rejections around 33-34 level had shown signs of pressure. It was mentioned that unless buyers step-in retesting lower supports looked likely. It is now positioned to test lower support levels, where Solana might re-energize itself to test its resolve against above resistances.

On the Upside the initial resistance levels are 32.60 and 33.30. Following this, Solana faces another significant resistance level at 34.50. These levels have made it difficult for price to develop any bullish momentum, so Solana must break clear of them in order to achieve higher targets.

On the Downside the price has found adequate support at the 30.50 level. This is still the primary point of support. Following this are the major support levels of 29.98-29.30. Whenever these supports are tested, expect substantial short-coverings followed by intra-day fresh-buying.