2-Hour Analysis:
Big Picture: Solana has come under strong pressure after testing the significant resistance levels of 14.95 and 15.25. These levels have been effectively preventing Solana from rising higher. Solana might very well test lower supports again before any substantial bounces. On the other hand, if buyers can once again manage a strong closing above the trendlines, Solana may attempt another re-test at higher levels.
On the Upside Solana’s price is basically restricted around 14.40 and 14.95 to 15.25. Solana has been trading in a narrow range of 15 to 12.40 for about 35 trading sessions. Unless the barrier above 15.25 is broken, the upside is expected to be limited. However, first resistance is currently between 13.80 to 14.05 levels. The next level of resistance is at 14.40.
On the Downside the 13.35 level is projected to provide strong support. If Solana can hold to this support level, the session’s fall will be limited. If this is lost, the price will almost probably fall towards the 12.95 to 12.75 range. These are the levels that previously saved Solana from a big sell-off while also initiating a massive price increase.
