2-Hour Analysis:
“Bulls Dominate”
Big Picture: The bulls not only maintained their strength, but also forced Solana into an even more precise hyper move. For the first time since April 28th, 2022, the bulls were able to push Solana back above the psychological 100 threshold. Volumes are strong, and the indicators remain in aggressively bullish zone, indicating that Solana might move higher into its next weekly resistances.
On the Upside there is some short-term congestion in the lower timeframes between 114 to 116. This zone has trendline-based resistances that if broken can put Solana back on track for 118 and 122 levels, followed by 128.
On the Downside intra-day support is found around 109.80, followed by 109.30. These are the session’s primary assistance levels. Meanwhile, the short-term faster EMA is aiding the price around 109.30. Meanwhile, there is a strong possibility of building sufficient support for the session between 108 to 107.40 levels. Price is unlikely to fall further into the lower levels as long as these levels hold.
