š” Quick Technical Analysis:
ā Bullish rebound after strong support! After dropping to $126.00, SOL has steadily risen to nearly $155 currently, demonstrating a return of buying confidence and strong market interest.
ā RSI indicator at 76.06, placing the currency in overbought territory ā this indicates strong momentum, but it may also suggest a potential correction approaching soon, so caution is advised.
ā MACD indicator is in a positive position! It shows a bullish crossover between the DIF and DEA lines, with a gradual increase in green bars, reflecting a gradual improvement in bullish momentum.
ā High and steady trading volume ā an additional sign of ongoing interest from investors.
š Expected Scenario:
If SOL can break through the $159.99 level, the path will be open to test the psychological resistance at $165 ā $170. In case of a correction, the $146.73 level may represent a strong support area before any potential rebound.
š„ Is SOL preparing to launch towards new levels?!
With the overall market recovering and investor confidence rising in L1 projects like Solana, the opportunity may be favorable for speculators and traders. But don't forget that overbought conditions may precede short corrective movements.
š¢ My Tips:
1. Use a stop-loss if the $146 level is broken to protect capital.
š¬ What do you think? Do you expect $SOL to break through new levels this week? šš