Solana Set For New All-time Highs in April?

The Solana cryptocurrency (SOL) price is currently stagnating below its all-time high while forming Relatively Equal Highs (REH).

This situation is deemed very attractive from an algo-technical analysis perspective, a conclusion drawn based on certain factors that will be discussed in detail below.

SOLUSD - 4 Hour Time Frame

In the context of the 4-hour time frame, besides the previously mentioned REH, there is a notable selection of sell-side liquidity (SSL) observable on the chart.

This movement concluded precisely within the Buy-side Imbalance Sell-side Inefficiency (BISI) zone, thereby characterizing this zone as a balanced price range. Consequently, a further decline into this zone may not transpire.

Additionally, the price has formed an Order Block (OB), signifying a shift in order flow towards a bullish direction. Moreover, the price is currently adhering to the Inversion Fair Value Gap (IFVG), marked as the orange zone on the chart.

Taking into account the recent developments, bolstered by several bullish indicators that the price is accurately respecting, it is plausible to anticipate further upward momentum, targeting the REH and possibly retesting all-time high milestones.