Solana price analysis (Bullish) — 142.87 USDT (+2.76% 24h)

SOL is showing impressive momentum, trading at $142.87 with a solid 2.76% gain over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($137.82) and 50-day SMA ($138.78), indicating strong underlying bullish structure. However, the RSI reading of 81.94 raises significant concerns about overbought conditions – this extreme level suggests the rally may be overheated and due for a pullback. The substantial $700 million daily volume confirms genuine institutional interest, but the 4.75% volatility indicates choppy price action ahead. Traders should consider taking partial profits at these levels while maintaining core positions. For new entries, wait for a healthy retracement toward the $137-138 support zone. Stop losses should be placed below $135 to protect against potential mean reversion given the stretched technical indicators. The overall trend remains upward, but risk management is crucial at these elevated levels.