Solana jumps 4% and is now back above $100

Solana price analysis for April 13, 2022, brings a bullish analysis for the SOL investors as the token has seen a huge surge in bullish volume in the last 24 hours. Furthermore, the token went as high as $140 in the last few weeks and was unable to push above into the $150 price region. On the other hand, the SOL price analysis for April 12, 2022, confirms that the token went below $100 but was able to hold support at the $99 price region. Investors can expect another bullish run towards $105.

The data from CoinMarketCap shows that the trading volume for SOL dropped by 1.54% in the last 24 hours, followed by a 4.21% surge in the market cap. The Market Dominance of the Solana token rose to 1.82%, while the Volume / Market Cap Ratio stands at 0.06633.

The daily candle for Solana was initiated at a price of $103.21 and reached a daily high of $104.20. Furthermore, the daily low for SOL was seen at $101.87, while the price of 1 SOL at the time of writing was $103.74.

Solana price analysis from the daily chart for April 13

Solana price analysis for April 13 will take into account the data from the daily chart below which has 3 major indicators on the daily chart embedded into it.  

Source: TradingView

The RSI indicator shows a value below 47 which means that the bears are currently in control of the price action. The gradient of the line suggests that back and forth movement might follow.

The MACD indicator shows that the MACD line remains below the signal line and the MACD histogram has also turned bearish.

The price action for Solana has dropped to the lower end of the Bollinger Bands which confirms that lower prices might follow.

Conclusion

Solana price analysis for April 13, 2022, confirms that the SOL token might remain bullish in the short term if the $100 price region remains as support.