4-Hour Analysis:
Big Picture: Solana held onto the EMA-50 and used it as key support. This has been a significantly encouraging development for the bulls. Reclaiming the prior range levels now would open extensive upside for Sol in the coming days.
On the Upside Sol is anticipated to struggle at the resistance level of 35.90-37.40. Bulls must break through this level to re-enter the prior range. A sustained hold above this level, on the other hand, is projected to continue the upside through 40, then 42.00. The 4-hour EMA-200 si seen here. Profit-taking is predicted, at least in part, at this level. A footing over 42.00, on the other hand, will result in a much speedier drive towards 44.40 and 47.80.
On the Downside Solana is continuously taking support off the EMA-50. The next level of support below this is 33, followed by 31. These are solid support levels for Sol, and they should keep the downside at bay. In the worst-case situation, a re-test of 27.50 is possible. This level, however, shall not be lost on daily closing.
