1-Day Analysis:
Big Picture: Solana had a strong session yesterday, with bulls breaking over all resistances with little resistance. Solana’s momentum is still incredibly strong, and it is aiming for pattern completion around the 19.80 level. The targets are almost identical to Solana’s next big resistances. Expect some profit-taking as the price continues to rise.
On the Upside Solana has broken through many intra-day resistances in just a few sessions. The bulls are presently targeting the 19.80 to 20.20 levels. However, there is intra-day resistance between these levels, beginning with 19.05 and progressing to 19.20 and 19.50. The session is further attempting to reclaim EMA-50 after 25 days.
On the Downside Solana now has a number of intra-day assistance. Initial support is being built at levels ranging from 18.60 to 18.50. Below this price, the EMA-50 level at 18.25 could act as support. Solana is expected to maintain these newly acquired support levels if strength maintains. However, anticipate the previous 2-hourly supply level between 17.60 and 17.30 to establish itself as key support and hold against any selling in the event of any strong profit-taking.
