SOLUSD Can $5000 become a reality??

Solana is overbought on the 1D technical outlook (RSI = 75.694, MACD = 9.354, ADX = 24.946) and even more so on 1W (RSI = 84.892) but that doesn't seem to stop its remarkable uptrend as it broke over the R1 level (144.00) today and the only Resistance standing now is the ATH (261.50). The price action is so far quite similar to the very beginning of Sol's trading days and the CCI supports that.

Consequently, if the long term pattern is a Channel up, we can see a Bull Cycle up to early 2025 and peak near its top (TP = 5,000).


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