CandleFocus Solana (SOL) $180 Breakthrough Comes With a Big Warning
2024-10-29
Author: Content Editor
The price of Solana (SOL) has reached $180 for the first time since July, leading to speculation about whether the altcoin will reach $200. However, technical indicators suggest that a pullback may be imminent before SOL can continue its ascent. The Chaikin Money Flow (CMF) and Money Flow Index (MFI) both indicate that SOL is overbought and may experience a short-term correction. While SOL's price has successfully retested the $180 mark and shows signs of a bullish trend, the supply zone at $185 is likely to push the price down. If bulls drive the token above $185, the price may not experience a drawback before reaching $200.
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