8-Hour Analysis:
Big Picture: Solana is once again in a bullish price pattern with higher highs and higher lows, but it has yet to create its extreme bullish vertical price movements. This could be related to the emerging price pattern. The pattern might be in its later stages, requiring bulls to sustain their strong momentum. Solana could lead to a vertical price increase over its most recent 52-week high of 126.40.
On the Upside Solana struggled at 116.20 to 118.00 range levels and encountered problems along the range. Additionally, this barrier was able to restrict Solana’s upward potential. However, for the session, there are new resistances at 113.80, followed by 115.20. Above this, resistance levels range from 116.20 to 118.00.
On the Downside Solana was unable to convert 115 to 114.20 levels into supports, causing price to fall to 112.40 first, followed by 110.80 to 110.20 levels. This lower range reacted quickly and is presently driving a robust rebound on lower time frames. Additionally, this range will continue to provide good support throughout the day. However, below these levels, the next support level is 107.50.
