$SOL
SOL's Open Interest is at all-time highs, whilst the Funding Rate is at highly elevated levels (0.03%). This suggests that Longs are chasing prices higher, and leverage flush out (price down) is increasingly likely.
Technical analysis
SOL was running into two key horizontal resistances; first at $165 and then at $185.
Today, the price has broken above $185. We'll need to see a convincing Daily candle closure above $185 to cement the breakout.
To the upside now, the next horizontal resistances are at $203 and $222. Should the price break upwards beyond those levels, then there's clear room up to $260.
Should price pull back, the horizontal levels of support are at $185 and $165.
The RSI is now very overbought, and with previous instances having seen pull backs.
