- Solana is trading at $118.96, reflecting a slight 1.62% daily gain amid subdued trading volume.
- Technical indicators hint at a potential bullish reversal, contingent on a breakout above $121.
- Analysts forecast SOL to average $130.63 in April 2025, with long-term ROI expectations reaching up to 24.2%.
Solana (SOL), one of the leading Layer 1 blockchain assets, is currently priced at $118.96, marking a modest 1.62% gain in the past 24 hours. This uptick comes amid a sharp 39.64% decline in daily trading volume, now standing at $3.94 billion.
The token keeps consolidating its well-established price zone of $113 to $121 with signals of an imminent reversal after experiencing a current pullback. Experts observe that price action is being closely bound, with an enhancing volume profile that indicates probable accumulation by investors.
The structure in the market is cautiously bullish above $113, although verification of any bullish momentum is dependent on breaking decisively above the $121 level of resistance.
The structure on the market remains bullish above $113, although confirmation of any upwards momentum will be dependent on a clear break above the $121 level of resistance.
Solana RSI Signals Potential Reversal from Oversold Levels
Several technical indicators during the period under analysis signal an emerging momentum shift. The Relative Strength Index (RSI) stands at 34.36 and is indicating an oversold level. As volatility declines by way of Bollinger Band Width 24.74%, there are signals that the breakout or trend conclusion is on the cards.
The MACD is approaching convergence with its signal line, which points to an impending momentum reversal. Additionally, the Average Directional Index (ADX) is strong at 38.0, confirming the current trend momentum.
The Directional Movement Index (DMI) remains biased in favour of sellers, although declining momentum is losing steam. As the ratio continues above 1.0, price movements in the current direction acquire validity.
Strategically, traders should track important levels strictly. A long setup may be considered in the area of $116–118 with its target set to $121 (R1), and $125 (R2), with the stop-loss set below $113.
On the other hand, a short setup is feasible on rejection at $121 with the target being $111 (S1), and stop above $125. Risk management is still required since the market is waiting for confirmed breakouts.
Solana expected to trade between $124 and $137
Changelly, cryptocurrency experts have offered promising forecasts into Solana’s price direction. In April 2025, the asset will be trading in the range of $124.29 and $136.96 and will be averaging $130.63.
This amounts to a 21.8% monthly return on investment (ROI). Projected further into the 2025 forecast period, technicals show trading ranging from $139.85 to $139.56 with an average price around $139.26.
If realized, this scenario could provide a maximum ROI of 24.2%, solidifying investor faith in the long-term growth prospects of Solana with ongoing ecosystem growth and interest from institutions.