Solana (SOL) Price Prediction for April 11

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Written By Maya Cantina

Thu, 11/04/2024 – 15:58

Cover image via www.tradingview.com

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Most of the coins are facing a bounce back on the market, according to CoinStats.

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SOL chart by CoinStats

SOL/USD

The price of Solana (SOL) has risen by 4.05% since yesterday.

Image by TradingView

On the hourly chart, the rate of SOL is growing after a false breakout of the local support level of $170.14. If the daily bar closes near or above the resistance, the upward move may continue to the $180 zone.

Image by TradingView

On the bigger time frame, traders should pay attention to yesterday’s bar peak at $175.5. If the candle closes above it, there is a chance to see a further rise to the $185-$190 area within the next few days.

Image by TradingView

From the midterm point of view, the rate of SOL is rather more bearish than bullish as it is located closer to the support.

Thus, if buyers lose the interim level of $170, the correction may lead to the test of $150-$160 range. Such a scenario is relevant until the end of the month.

SOL is trading at $173.40 at press time.

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