🤑🚨Will #Solana (SOL) reach $200 after surpassing this key resistance?
📈 The price of Solana has recovered to 180 dollars for the first time in almost three months.
Both the Chaikin Money Flow and the Money Flow Index show that SOL is overbought and could pull back soon. The analysis reveals that a resistance at 185 dollars could pull the price back to 161.81 dollars.
The price of Solana ($SOL ) has reached 180 dollars for the first time since July, sparking speculation that the cryptocurrency may be gearing up for a prolonged breakout.
This upward momentum coincides with increasing interest from investors, but the question remains: will Solana reach 200 dollars?
As traders eagerly await this breakout, technical indicators suggest that there could be an imminent pullback before SOL can continue its rise. Currently, the MFI has surpassed a reading of 80.00, confirming that SOL is overbought.
If the reading were below 20.00, it would indicate oversold conditions. Given this outlook, Solana's upward momentum could wane, potentially resulting in a short-term correction before another notable increase.
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