Solana(SOL): Overbought near Resistance?

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.

Yorum:

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)