3 min readSOLANA (SOL/USD):
Solana has finally reached its previous all-time highs (ATHs) and briefly set new ATHs around $264.00. This asset class has experienced significant volatility in recent months, driven in part by the surge of interest in “meme” coins within the Solana ecosystem.
A closer examination of the technicals reveals that the price has moved into some recent resistance areas while attempting to establish short-term support before climbing higher. I’ll be monitoring closely to see how the price action unfolds as it begins to rebalance and approach the 50% Fibonacci level of this recent move, as highlighted below. Additionally, the RSI indicator showed signs of the asset being temporarily “overbought” when it reached new all-time highs.
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