Solana nearly 50% low from all-time high as bulls aim for $150

Solana price analysis for April 4, 2022, will talk about the chances of SOL reaching $150 in the coming days. Moreover, the token has been performing quite well in recent days but as TheCoinRise noted, the SOL token is nearly 50% low than the all-time high. It is also important to note that as per our SOL price analysis for April 1, 2022, the SOL token has found important support at $125.

The data from CoinMarketCap shows that the trading volume for SOL drooped by 27.51% in the last 24 hours, followed by a 1.26% surge in the market cap. The Market Dominance of the Solana token rose to 2.07%, while the Volume / Market Cap Ratio stands at 0.05444.

The daily candle for Solana was initiated at a price of $136.90 and reached a daily high of $137.39. Furthermore, the daily low for SOL was seen at $134.07, while the price of 1 SOL at the time of writing is $136.97.

Solana price analysis from the daily chart for April 4

Solana price analysis for April 4 will take into account the data from the daily chart below that will consider the 3 major indicators on the daily chart below.

Source: TradingView

The RSI indicator is currently in the overbought region which means that we might see the token above the $150 price level in the coming days. Moreover, the gradient of the line suggests that the bulls are still in control. 

The MACD indicator shows that the MACD line and the signal line are very far apart from each other. Furthermore, the MACD histogram is also bullish with green bars being more than 50% low than the all-time high. We might see Solana break above $260 ATH in the coming days. 

The price action continues to break out from the upper end of the Bollinger Bands which confirms that the bulls will remain in control.

Conclusion

The Solana price analysis for April 4, 2022, concludes on a bullish note for the token as chances of breaking $150 seem very high.