🟢
$SOL : strong, but extremely stretched 🚀
Solana is trading in the US$ 100–102 area after a sharp rally. In the last 24 hours, it rose 7–8%, adding about 32% over 7 days.
📊 The alert is in the indicators:
• Daily RSI: 85–88
• Above the upper Bollinger band
• MACD and momentum remain positive
• Price is well above the 20- and 50-day averages
The trend remains bullish, but buying now offers a less favorable risk/reward ratio. ⚠️
🎯 Key levels
🔴 Resistances:
• US$ 105–107 → first barrier
• US$ 110–115 → main resistance
• US$ 120 → next target if it breaks out 🚀
🟢 Supports:
• US$ 98–100 → immediate support
• US$ 94–95 → critical level
• US$ 88–90 → strong support
• US$ 80–82 → structural support
The US$ 95–115 region is especially important because it previously acted as support and may now turn into resistance.
⚡ Catalysts on the radar
Solana governance votes on supply, disinflation, and token burning—scheduled for August 27—could strengthen the narrative of supply reduction.
🏦 In addition, Solana ETFs logged about US$ 33.5 million in inflows on August 24, reinforcing institutional demand.
⚠️ But be careful with the euphoria.
The structure is still positive, but the move is very accelerated. A pullback or profit-taking before a new high would be completely possible.
👀 Summary: above the main supports, buyers remain in control. US$ 110–120 is still on the radar, but a correction to test supports would also be healthy.
#solana #sol #bullish