4-Hour Analysis:
Big Picture: Solana returns to the Key support region. Overall, Solana has been in a macro-range since approximately the end of December 2023. Meanwhile, more clearly inside the lower range of the current range. Bulls have made several attempts to retake the mid-range of this range in order to seek higher levels, but they have largely failed.
On the Upside the resistance levels for the session are 97.70 and 98.50. Above 98.50, the next resistance levels are 102 and 103. This will be the session’s important barrier, as breaching it will provide fresh momentum towards bullish rebound levels of 105.50 and 107.50.
On the Downside the session’s main support levels are 93.70 and 91.20. This supporting zone also includes EMA-200 and EMA-250 support levels, which will increase the existing support levels. This supporting range has also been stable for quite some time. The downside is shielded for as long as this range lasts. Losing 91.25 will allow the downside to reach 87 and 85.
