SolanaShort
SOL/USD Technically Overextended
Solana against the USD has enjoyed a great bull rally, however technical analysis now points to downside.
Price has rebounded out of the 61.8% fibonacci extension level, and we anticipate a retracement into the previous highs. The 4H RSI is also indicating bearish divergence, and we are looking for a move to the 220 level.
Downside target: 220
Violated Above: 270
Price has rebounded out of the 61.8% fibonacci extension level, and we anticipate a retracement into the previous highs. The 4H RSI is also indicating bearish divergence, and we are looking for a move to the 220 level.
Downside target: 220
Violated Above: 270
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