Solana Technical Analysis: 4 APR 2025
Solana is aiming for the intra-day resistances. Source: TradingView
General View
Solana penetrated deeper into the weekly support levels; however, despite the odds, bulls once again shielded any attempts at a breakdown. The reaction from this level suggests a potential double-bottom formation on the higher timeframe, but the price remains capped by a descending trendline that has consistently pressured bullish attempts. If buyers can sustain this recovery, SOL could see a breakout attempt in the coming sessions. However, failure to hold this support could expose the price to deeper downside risks.
On The Upside
Solana is currently aiming for $120 to $123 intraday resistance zone. A show of strength above this zone would indicate growing bullish momentum. The next key challenge lies near the descending trendline, which currently aligns with the $130–$137 resistance range. This range has consistently created difficulties for the bulls and is expected to be challenging once again.
On The Downside
The price now has a confirmed strong support presence at the $110 level. It was previously mentioned that intraday supports had the strength to hold, and once again, $110 and $105 remain the key levels to watch. Additionally, there are new intraday support levels at $115 and $112 for the session.
Solana, after holding weekly supports, has raised the chances of a double bottom pattern. Source: TradingView
