Solana ($SOL ) just hit a high of $171.76 but is now showing signs of decline. If you’re wondering what to do next, here’s a breakdown of the best strategies moving forward.
Current Market Overview:
Stochastic RSI is at 83.70, showing SOL is overbought, and a cool-off phase has already begun.
RSI (6) is at 70.96, further indicating overbought conditions and signaling a potential retracement.
OBV shows negative volume, suggesting profit-taking is already happening.
What’s Next for Holders?
Since the price has already touched $171 and started pulling back, taking profits right now could be smart if the price struggles to recover. Consider taking profits around $166 - $170, especially if the momentum weakens.
For New Buyers: Wait for a Better Entry
If you’re looking to enter SOL, wait for a pullback. Look for a buy zone around $150 - $155, or if the decline continues, $140 offers an even stronger support level.
What to Expect Moving Forward:
SOL has shown strong bullish momentum but is currently in a retracement phase. Watch for signs of recovery before re-entering, and look to accumulate at key support levels for long-term gains.
📉 Stay patient and make your move at the right time!
