SOL is currently in a pullback after a strong rally. The price is near its 20-period moving average, but the RSI indicates it may be overbought. Recent history shows a sharp drop from $139 to $123, suggesting volatility. A cautious approach is advised, looking for a better entry point.
Current Market Snapshot
SOL is trading at $126.66, up 0.32% in 24 hours. The price is just above the 20-period average ($126.03) but below the 50-period average ($130.56). The RSI is at 73.4, which is generally considered overbought (above 70).
Recent Price Action
The price surged to nearly $140 before a sharp drop to around $123.50. It has since recovered slightly. This shows high volatility. The lowest recent point (local_min) was $123.53, and the highest recent point (local_max) was $139.52.
Key Levels to Watch
Support (where price might stop falling) is seen near the recent low of $123.53. Resistance (where price might stop rising) is seen near the recent high of $127.72. The 20-period average at $126 is also acting as a temporary support level.
Trading Strategy for Beginners
Given the overbought RSI and recent drop, it’s risky to buy immediately. It’s better to wait for a clearer signal. If you are looking to buy, consider a price closer to the strong support level. If you already hold SOL, consider taking profits if the price approaches resistance.
Beginner Recommendations
Advice: hold
Buy Price: 124.0 USDT
Sell Price: 127.5 USDT
Key metrics
| Price | 126.6600 USDT |
| 24h Change | 0.32% |
| RSI(14) | 73.43 |
| SMA20 / SMA50 | 126.03 / 130.56 |
| Daily Volatility | 3.68% |
| Sentiment | Neutral |
| Risk level | High |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
