Quick analysis of SOL today:
Current price: $180.56
24-hour price increase: +7.06%
Highest price today: $184.88
Lowest price today: $166.18
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Technical situation:
• The price is now at a medium resistance area (close to MA99 at $181.77).
• The moving averages (MA7 and MA25) are crossing positively, giving a short-term bullish signal.
• The StochRSI indicator is at a very high overbought level (92.5) = potential for a correction soon.
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Should we buy now?
• Buying now carries risk as the price is near resistance and overbought indicators are high.
• The better plan: wait for a slight drop and test support at $178 – $176, then consider buying from there.
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Advice for traders:
Do not enter at peak momentum; it is better to wait for a slight correction and enter from strong support areas.