2-Hour Analysis:
Big Picture: Expecting a few volatile sessions for SOL as long as it remains stuck around 84-94. It’s going to get rough for leveraged traders unless SOL starts to operate above 94. Sustaining above 94 will lead towards 96 followed by 2-Hour based supply zone at 99-101. Expect intra-day profit-taking at these levels.
The Upside the initial resistance level is 92.20, followed by 94.30. This level features a lot of resistances, so it’s a tough one. If SOL starts to hold above this, it will open the door to further upside into the EMA-50 Daily. If the EMA-50 is broken, the next immediate upside target is 99-101. The next levels are 104.50-107.
On Downside at 90, a significant trendline support is being honored. If this support is broken, the momentum will be slowed, with the next support levels being 88-87, followed by 84.50. If this level is breached, much stronger supports in the range of 80-78.60 will reopen. If seen, 80 is expected to act as a sturdy bottom for the day, restricting any potential slide.
