SOL (SOLUSDT) is trying to liquidate its overbought condition - Analysis - 09-30-2024 $SOL

The price of SOL/USD (SOLUSDT) has decreased during its recent trading at the moment levels, due to the stability of the current resistance level 162.00, so that the price is trying to gain positive momentum that may help it recover and break through that resistance, and at the same time it is trying to liquidate some of its clear overbought condition with the relative strength indicators, especially with the beginning of the negative signals from them, amid the continued positive pressure due to its trading above its simple moving average for the previous 50-day period.

Therefore, our expectations indicate the likelihood of a scenario of a return to the rise in the currency price during its upcoming trading, especially in the event that it breaks the resistance level 162.00, to then target the pivotal resistance level 188.30.

The expected direction for the pair's upcoming trading: Likely to rise