SOL-“Support Re-Test Likely”

4-Hour Analysis:

Big Picture: Despite its strength, Solana failed to break through intraday barrier at 21.20 and 21.30. Failure to break through this level has once again put pressure on the price. However, as long as the lower supports hold, the price may remain caught within this small range before making a conclusive move. Buyers pushing the price above 21.30 may propel Solana into a strong advance

On the Upside the intra-day resistance once again proved to be too strong for buyers to surpass. This level remains a fine hurdle since 8th May and has been successfully limiting Solana’s surge. For the session 20.80 has been re-established as resistance level, while major resistance for the session still remains at 21.20 to 21.30 levels.

On the Downside Solana is likely to re-test the previous range low supports at 20.30 to 20.00 levels. If these supports uphold the pressure, Solana is likely to see a bounce once again while any pressure build-up below these supports would once again drag Solana under bearish grip.