#Solana⁩

Key Levels (Support and Resistance):

Immediate Resistance: The Upper Bollinger Band at $197.01.

Immediate Support: The Moving Average of the Bollinger Bands at $188.19.

Strong Support: The Lower Bollinger Band at $179.37 and the previous low of $174.08.

Bullish Scenario:

If the price manages to break and consolidate above $197.00 (Upper Band Resistance), it could initiate a new bullish wave with the RSI providing room to rise and the MACD confirming the momentum. The next target would be the previous high of $211.25.

Bearish Scenario:

If the price falls and consistently closes below the Moving Average of $188.19, it would invalidate the current bullish momentum. A break below the strong support at $179.37 (Lower Band) could lead to a test of the previous low of $174.08.

Summary:

The 4h chart suggests a consolidation phase with a slightly bullish bias. The momentum indicators (RSI and MACD) are aligned for a rise, but the movement is contained by the compression of the Bollinger Bands. A break of $197.00 or a drop to $188.00 will be the key events that define the next important direction.

Disclaimer: This analysis is merely informative and technical. It does not constitute financial advice.