๐ฅ SOL at $104.14 โ up 7.55% with $407M volume. This is the second-hottest coin on Binance right now, and the daily RSI just hit 83.7. That's deep overbought territory.
Here's what I see:
SOL is in a strong uptrend, trading well above both the 7-day ($97.83) and 25-day ($82.42) moving averages. The 4h MACD histogram is positive at 0.50, showing momentum is still building. But the daily RSI screaming "overbought" means this move could exhaust soon.
Volume is increasing (1.2x ratio), which confirms the trend โ but declining participation at overbought levels is a classic divergence setup. The long/short ratio at 1.71 tells me most traders are already long. Crowded trades reverse hard.
๐ Trade Plan (VOLATILE โ caution):
โ Entry: $103.00 โ $105.29
โ Stop Loss: $107.12 (above entry for failed breakout invalidation)
โ TP1: $108.31 | TP2: $112.47 | TP3: $116.64
โ Risk/Reward: 1.4x | Confidence: 65%
โ ๏ธ This is a momentum trade, not a conviction trade. If you're already long, consider trimming at TP1.
What's your move โ riding SOL to $120 or taking profits here? ๐
#SOL #Solana #DYOR
โ ๏ธ Not financial advice. Do your own research. Crypto is volatile โ never risk more than you can afford to lose.
Here's what I see:
SOL is in a strong uptrend, trading well above both the 7-day ($97.83) and 25-day ($82.42) moving averages. The 4h MACD histogram is positive at 0.50, showing momentum is still building. But the daily RSI screaming "overbought" means this move could exhaust soon.
Volume is increasing (1.2x ratio), which confirms the trend โ but declining participation at overbought levels is a classic divergence setup. The long/short ratio at 1.71 tells me most traders are already long. Crowded trades reverse hard.
๐ Trade Plan (VOLATILE โ caution):
โ Entry: $103.00 โ $105.29
โ Stop Loss: $107.12 (above entry for failed breakout invalidation)
โ TP1: $108.31 | TP2: $112.47 | TP3: $116.64
โ Risk/Reward: 1.4x | Confidence: 65%
โ ๏ธ This is a momentum trade, not a conviction trade. If you're already long, consider trimming at TP1.
What's your move โ riding SOL to $120 or taking profits here? ๐
#SOL #Solana #DYOR
โ ๏ธ Not financial advice. Do your own research. Crypto is volatile โ never risk more than you can afford to lose.