Hey Traders 👋
SOL has recently experienced a significant rise, reaching the $44.12 region. However, several indicators suggest potential volatility ahead:
Overbought Indications: The RSI is currently in an overbought zone. Historically, SOL has shown a tendency to correct after entering this region, as evidenced by its previous price action and same goes for the Bollinger Bands %b.
Potential Pullback: The price action suggests potential weakness in the coming days. With the current peak, a retracement might be imminent either this week or next.
200 EMA Considerations: SOL is currently trading above the 200 EMA, which might serve as a support. However, a re-test of this level cannot be ruled out.
While SOL has shown strong performance recently, the technical indicators point to potential pullbacks or corrections in the near future.
If you like ideas provided by our team you can show us your support by liking and commenting.
Yours Sincerely,
Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
SOL has recently experienced a significant rise, reaching the $44.12 region. However, several indicators suggest potential volatility ahead:
Overbought Indications: The RSI is currently in an overbought zone. Historically, SOL has shown a tendency to correct after entering this region, as evidenced by its previous price action and same goes for the Bollinger Bands %b.
Potential Pullback: The price action suggests potential weakness in the coming days. With the current peak, a retracement might be imminent either this week or next.
200 EMA Considerations: SOL is currently trading above the 200 EMA, which might serve as a support. However, a re-test of this level cannot be ruled out.
While SOL has shown strong performance recently, the technical indicators point to potential pullbacks or corrections in the near future.
If you like ideas provided by our team you can show us your support by liking and commenting.
Yours Sincerely,
Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
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SOL has had very nice movement to lower zones already with 12% of market movement!