$SOL next move bullish or bearsh?
Looking at the **SOL/USDT** chart:
1. **Current Price**: 174.05 USDT
2. **Stochastic RSI**: Extremely overbought with STOCHRSI at 99.10 and MASTOCHRSI at 97.55. This suggests that the market is likely overheated and could soon face a retracement or cooling off.
3. **RSI**: The RSI is also quite high at 83.77, which is in the overbought zone (above 70), further signaling a potential pullback in the near term.
4. **Previous Highs & Lows**: SOL has bounced from a low of 110, and it's now pushing toward a resistance zone near 175-180. The next significant resistance is around 193-198 USDT, as seen from previous highs.
Given these indicators, **SOL could be approaching a short-term peak**, with a potential pullback on the horizon due to the overbought conditions. The immediate move might be to test the resistance near 175-180, followed by a possible retracement if the price fails to break through that level.
It would be wise to watch for signs of consolidation or reversal in the coming sessions.
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