2-Hour Analysis:
Big Picture: Solana has found its bidding once more after testing lower intraday supports. Price is re-testing previously broken support levels. If Solana re-establishes these as supports, a re-attempt towards higher resistances continues to be on the table. While losing this momentum will simply revert it to lower supports. As a result, buyers must maintain a firm grip.
On the Upside Solana is currently testing the 13.70-14.05 range levels. This range is occupied by a handful of resistances. Breaking these will be a positive sign and will allow for a smoother run on the upside. Surpassing this will almost certainly take the price to the 14.40 level. Strength above this region is required for a re-test on 14.95-15.25 levels. Previously, Solana’s upside was limited by this region.
On the Downside minor supports can be found between 13.30 and 13.40 levels. Finer supports, on the other hand, range from 13.20 to 12.75 levels. At these levels, the initial sell-off was also limited. Furthermore, if Solana can maintain these supports, momentum will likely return, causing prices to rise. If these intraday supports are breached, price will be exposed back to 12.30 levels, with the possibility of even lower levels.
