Here is the technical analysis of $SOL

The chart shows Solana trading on the 4-hour timeframe against USD. Currently at $35, SOL finds itself rebounding from the $34 support level tested earlier. This signals buying interest is defending this key area after a minor pullback. Immediate resistance stands at $35.50 based on the current 4-hour high.

The short term moving averages remain stacked positively above longer term lines. This supports ongoing bullish momentum in the near term as price action pushes higher. Volume has also decreased over the last few sessions, consistent with an uptrend developing.

Maintaining support at $34 over the coming hours will be important for bulls to sustain control. A 4-hour close above $35.50 resistance could spark further buying pressure. However, failure to hold $34 opens the potential for a deeper retracement towards the lower levels visible on the chart.

In summary, technical studies imply further upside is possible. Provided $34 anchor holds as support, long positions may target $35.50 resistance. The overall bullish bias persists unless this floor is breached.

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