Author:
Solana’s spectacular performance appears to have reached a top.
Key Support levels: $43
Key Resistance levels: $67
1. Bears Return
After new local highs, Solana has arrived at the $67 key resistance where sellers appear to be making a stand. Buyers failed to break this level and now are on the defensive. The key support is at $43.
2. Uptrend Could be Lost
Since mid-October, Solana went from $21 to $67 without any significant pullbacks. This is why a deeper correction could be expected at some point in the future.
3. Daily RSI Bearish Divergence
While SOL’s price is making higher highs, this is not the case on the daily RSI which is showing a bearish divergence. This signals that buy momentum is fading and may give sellers an opportunity to push this cryptocurrency lower.
Bias
The bias for SOL is neutral.
Short-Term Prediction for SOL Price
Solana remains a very strong performer, but this rally may be approaching its end. If buyers fail to take the price above the resistance at $67, then sellers could take over in the near term.
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