12-Hour Analysis:
Big Picture: The slowdown of Solana’s momentum is becoming clear. Price has been struggling near the major resistance region as bulls have been unable to reclaim their control as of now. However, the pattern is still attainable and in progress. The RSI strength parameters are once again beginning to drop, indicating that momentum is still weak and that a strong breakout above 118 is required to spark the momentum.
On the Upside there are fresh minor resistances introduced for the day. These intra-day resistances are at 111.40, followed by 112.80 and 114.20. However, these are breakable levels, while Solana’s significant breakthrough levels remain at116.20 to 118 zone. These are the pattern breakout levels, and over these resistances, an enormous emergence of momentum is anticipated.
On the Downside price is once again falling down to support levels of 108.20 to 107.50. These are in fact strong support levels, with reasonable prospects for a significant recovery. However, the breakout-based supports ranging from 104 to 102 levels are the major supports. These supports are critical to sustain since they keep the pattern and bullish momentum intact.
