Solana (SOL) technical analysis:
Trade setup: Following a bullish breakout from Falling Wedge pattern, price rallied over 200% to $60 resistance and broke through it. Even though it is overbought (RSI > 80), it appears poised to continue its run in the near term and revisit $80 resistance next.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $47 (previous resistance), then $38. The nearest Resistance Zone is $60.
Trade setup: Following a bullish breakout from Falling Wedge pattern, price rallied over 200% to $60 resistance and broke through it. Even though it is overbought (RSI > 80), it appears poised to continue its run in the near term and revisit $80 resistance next.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $47 (previous resistance), then $38. The nearest Resistance Zone is $60.
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