$SOL Chart Analysis: Short & Long-Term Outlook (April 12, 2026)
The price is currently sitting right at the mid-range, around the $81–$82 level. I pulled a Fibonacci retracement from the closest swing high to the recent low looking for confluence, but nothing lined up. It was only when I anchored it from the recent high down to the PQL (Previous Quarter Low) that a single level emerged. The 0.382 Fib perfectly aligns with the PML at $79.84. This is a crucial support level—if it breaks, it looks like a straight drop down to the PWL. Personally, I expect a sweep of the PWL first, followed by a bounce. I'm not entirely sure how high it will go, but even if it isn't a massive rally, we should see a 10–20% relief bounce . The reasoning behind this lies with Bitcoin. BTC's weekly trendline is currently pointing at 77.4k, and looking at historical price action, it seems highly likely to tap that line. Since BTC is currently pulling back, a quick liquidity sweep to the downside before moving higher is the highest-probability play. Assuming ...