$382M daily volume on SOL — and RSI is screaming overbought at 84 on the daily. But here's the thing about momentum: it doesn't care about your indicators 🚀
Solana just ripped +8.77% to $104.45 with nearly $400M in volume — that's 1.4x normal. The daily chart shows three consecutive green candles, each one closing higher. Price is trading well above all major moving averages (SMA7 $97.9, SMA25 $82.4, SMA99 $77). This is textbook trend strength.
The 4H MACD is bullish and expanding (+0.47 histogram), while the daily MACD has been in positive territory for days. Yes, the daily RSI at 83.9 is overbought — but in strong trends, overbought can stay overbought for weeks. The 4H RSI at 71.7 still has room before extreme levels.
Why am I bullish here? Volume is increasing alongside price — that's healthy trend continuation. The long/short ratio at 1.79 shows traders are positioned long, but not at dangerous extremes. When volume dries up while price keeps rising, that's when you worry. We're not there yet.
Trade Plan 📊
Entry: $103.20 — $105.70 (4H SMA7 pullback zone)
Stop Loss: $99.00 (below psychological $100)
TP1: $108.60 (+$3 from entry)
TP2: $112.80 (mid-range resistance)
TP3: $117.00 (trend extension target)
R:R ≈ 1:1.3 on TP1
The momentum is undeniable, but overbought means you NEED a stop. Ride the wave, don't fight it.
SOL chasing $110 next or exhaustion setting in? Drop your take 👇
#SOL #Solana #DYOR
⚠️ Not financial advice. DYOR. Manage your risk.
Solana just ripped +8.77% to $104.45 with nearly $400M in volume — that's 1.4x normal. The daily chart shows three consecutive green candles, each one closing higher. Price is trading well above all major moving averages (SMA7 $97.9, SMA25 $82.4, SMA99 $77). This is textbook trend strength.
The 4H MACD is bullish and expanding (+0.47 histogram), while the daily MACD has been in positive territory for days. Yes, the daily RSI at 83.9 is overbought — but in strong trends, overbought can stay overbought for weeks. The 4H RSI at 71.7 still has room before extreme levels.
Why am I bullish here? Volume is increasing alongside price — that's healthy trend continuation. The long/short ratio at 1.79 shows traders are positioned long, but not at dangerous extremes. When volume dries up while price keeps rising, that's when you worry. We're not there yet.
Trade Plan 📊
Entry: $103.20 — $105.70 (4H SMA7 pullback zone)
Stop Loss: $99.00 (below psychological $100)
TP1: $108.60 (+$3 from entry)
TP2: $112.80 (mid-range resistance)
TP3: $117.00 (trend extension target)
R:R ≈ 1:1.3 on TP1
The momentum is undeniable, but overbought means you NEED a stop. Ride the wave, don't fight it.
SOL chasing $110 next or exhaustion setting in? Drop your take 👇
#SOL #Solana #DYOR
⚠️ Not financial advice. DYOR. Manage your risk.