CandleFocus Solana’s Push to $200 Meets Heavy Resistance Hinting at a Reversal
2024-10-31
Author: Content Editor
Solana's price is approaching the $186 resistance mark, which has caused reversals in the past. However, indicators suggest that SOL may be entering overbought territory, which could lead to a correction and hamper its momentum. The high inflows and elevated Chaikin Money Flow indicate a risk of selling pressure. The Relative Strength Index (RSI) also suggests that the rally may be overstretched and could stall. If SOL fails to break through $186, it could retrace to $161 or even $155. However, if market trends push the bullish momentum, SOL could break through resistance and aim for $200.
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