Solana Market Update – April 11, 2025
Solana is currently sitting at a key support zone on the daily chart, showing early signs of a potential reversal, although confirmation is still pending. The broader context remains intact: we are either in the final stages of a correction or setting up for a wave 5 rally that could push SOL toward new all-time highs, possibly in the $360 range.
Support Levels to Watch:
$91.78
$79.82
While some traders are expecting one more low, the market is ripe for a bounce, and a reversal can happen at any time. However, we need:
A break of resistance,
Clear wave patterns on lower timeframes,
And a confirmed five-wave move up to confirm a bottom.
So far, the rally from April 7 lacks the characteristics of a strong impulse and is more likely forming a diagonal structure. The $127.37 level is key — this would validate a possible wave 3 scenario. A break above $121.20 would favor bulls, while a drop below $108.50 might trigger a deeper decline toward $91.
Takeaway:
We’re in a critical wait-and-see zone. Both bullish and bearish outcomes are still in play, and confirmation is required to commit to either direction. The next few sessions should bring clarity.
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