SOL is knocking on $100 with the strongest volume surge I've seen this week — 2x normal. But daily RSI at 86.8 is flashing warning signs 🚨
Solana at $99.61, up 4.88% with $606M in volume. The 4H chart is clean: price above SMA7 ($98.47) and SMA25 ($95.04), MACD expanding, RSI at 69 (still has room).
But the daily chart tells a different story. RSI at 86.8 is deep overbought territory. The last time SOL hit this level, it pulled back 12% before resuming the trend.
📋 Trade Plan (HOLD — patience required):
• Entry: $98.32 - $100.90 (SMA7 support zone)
• Stop Loss: $102.96 (above — invalidation if broken)
• TP1: $103.59 | TP2: $107.58 | TP3: $111.56
• R:R = 1.2
The long/short ratio at 2.04 tells me most traders are already long — crowding can lead to liquidation cascades on any sharp move down.
My play: I'm holding existing positions but not adding here. If you're flat, wait for a dip to $95 (SMA25) for better risk/reward.
$100 breakout or rejection? What are you watching for? 👇
#SOL #Solana #DYOR
⚠️ Not financial advice. Always DYOR.
Solana at $99.61, up 4.88% with $606M in volume. The 4H chart is clean: price above SMA7 ($98.47) and SMA25 ($95.04), MACD expanding, RSI at 69 (still has room).
But the daily chart tells a different story. RSI at 86.8 is deep overbought territory. The last time SOL hit this level, it pulled back 12% before resuming the trend.
📋 Trade Plan (HOLD — patience required):
• Entry: $98.32 - $100.90 (SMA7 support zone)
• Stop Loss: $102.96 (above — invalidation if broken)
• TP1: $103.59 | TP2: $107.58 | TP3: $111.56
• R:R = 1.2
The long/short ratio at 2.04 tells me most traders are already long — crowding can lead to liquidation cascades on any sharp move down.
My play: I'm holding existing positions but not adding here. If you're flat, wait for a dip to $95 (SMA25) for better risk/reward.
$100 breakout or rejection? What are you watching for? 👇
#SOL #Solana #DYOR
⚠️ Not financial advice. Always DYOR.