4-Hour Analysis:
Big Picture: Solana had a strong momentum lately, but it failed in establishing any acceptance above mid-range. As a result, momentum has weakened as price has lost a number of intraday supports. Price is once again approaching the range low levels, where another response can be expected, even if only in partial terms.
On the Upside initial resistances for the session is currently being seen at 21.65 level. Following this level the levels at 22.05 to 22.15 have now resurfaced as resistances as well. Both these levels are expected to create intra-day hurdle for the price. While price flipping back above 22.15 will pave the way for mid-range once again at 23.40 level.
On the Downside Solana had heavy intraday selling as a result of numerous rejections off the mid-range level. Price lost a couple supports in the process and moved to test the 21.30 to 21.20 levels, which ended up giving price support. Solana seems to be under pressure as long as it is below 22.15. Additionally, intra-day supports are currently maintaining the price, but if they are violated, the price is projected to go deeper towards range lows between 20.60 and 20.30.
