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Solana (SOLUSD) Price Forecast: April 12
The SOLUSD pair may record massive gain as it eyes a breakout at the $116.94 current value, recovering and facing the upper channel. The bulls obtained suitable support at the pattern’s rising trend line to accumulate the coin at the jumps. Thus, if the coin closes above the $147.60 prior resistance level, the accelerated buying pressure may increase the coin price to reach the $150.00 upper resistance level, resulting in a potential buy signal.
Key Levels:
Resistance Levels: $138.00, $139.00, $140.00
Support Levels: $98.00, $97.00, $96.00
SOL (USD) Long-term Trend: Bullish (4H Chart)
https://learn2.trade/visit/eightcapThe long-term market value of Solana eyes a massive breakout as it continues moving in a bullish direction from the chart below.
The coin price is above the moving average, confirming a bullish race due to the high impact of the buy investors in the coin market.
During yesterday’s session, the pair reached and held the $106.26 resistance level. This has made it possible for the coin to remain in an uptrend in its recent high.
However, amid the recent sell-off in the Solana market, the coin price showed a massive breakout from the support trend line to the $116.94 resistance level as the 4-hourly session opens today, suggesting an uptrend in the context of the strength of the market and also shows that buyers are still in dominant of the price actions at the present.
Meanwhile, the pair has a target price of $150.00 as it’s about reaching the upper resistance as indicated by the daily stochastic pointing upwards. The mentioned target might be reached in the days ahead in its long-term perspective.
SOL (USD) Medium-term Trend: Bullish (1H Chart)
SOLUSD indicates an upward trend with a bullish sentiment in its medium-term perspective.
The coin is trading above the EMA-50. However, the market is facing resistance at the recent high due to the high bullish impact on the crypto.
The bulls’ action to the $116.94 resistance level above the moving averages as the chart opens today, confirms the presence of more bulls in the market.
The SOLUSD has remained an overperforming asset throughout March and an upside breakout from a bullish pattern reflects the aggressive nature of buyers.
Hence, if the Solana price sustains above the $121.05 resistance level, the resulting rally may surpass the $124.81 previous peak and hit the $130.00 psychological level at the upside in the days ahead in the medium-term forecast.
Buy Solana on eightcap.com
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