Solana(SOL): Overbought near Resistance?
Updated
Solana's recent price action suggests a consolidation at a significant resistance level. The Relative Strength Index (RSI) has retreated from overbought conditions, indicating a potential easing of buying pressure. While currently holding resistance, a good hold near current zones could lead to a test of lower support levels, with the first notable support zone around a 26% decline from the resistance. However, if the resistance gives way to a bullish push, we could see an attempt to reach higher liquidity zones.
As SOL oscillates at this crucial level, we maintain vigilance for a clear directional move.
As SOL oscillates at this crucial level, we maintain vigilance for a clear directional move.
Comment
Sol has two possible movements now due to the fact that yesterday's candle got closed below resistance and a new one is pushing through.
If we see new daily candle secure the resistance, there are high chances of breakout happening (clear one)
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