CandleFocus SOL/ETH Trading Pair on Binance Hits New High After 4-Month Rally! Will the Rise Continue?
2024-10-24
Author: Content Editor
The SOL/ETH pair on Binance has been performing well, rising over 15% since October 1st. However, technical indicators suggest that the rally may be overextended, signaling a possible short-term correction. The rally in SOL/ETH is driven by renewed interest in the cryptocurrency following increased activity on the Solana network. The 14-day RSI has climbed above 70, indicating overbought conditions, and is currently at its highest level since March. While an RSI reading above 70 suggests an overextended rally, it does not necessarily mean the uptrend is over. Traders suggest that bullish momentum may still have room to grow.
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