3 min readSOLANA (SOL/USD):
As mentioned in previous articles, I am interested in observing how price action behaves within these areas of internal support. Currently, the price has moved back above $150.00 and is holding support along this internal trend line. If the upward trend continues, I anticipate potential resistance around the $160.00 level.
Looking more closely at the technicals, we can see that the price has temporarily broken out of the descending trend line after retracing to the 50% level on the Fibonacci tool. If this breakout and retest holds, I will closely monitor the RSI indicator for any signs of an overbought conditions and to gauge the market’s reaction.
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