Solana price analysis (Bullish) — 237.85 USDT (+6.21% 24h)

SOL is showing strong bullish momentum, trading at $237.85 with a notable 6.21% gain over the past 24 hours. The RSI reading of 81.77 indicates the asset is significantly overbought, suggesting potential for a near-term pullback. However, the price remains well above both the 20-day SMA ($231.48) and 50-day SMA ($226.65), confirming the uptrend’s strength. The high volatility of 3.07% combined with substantial volume of $1.38B reflects active institutional interest. Traders should consider taking partial profits here while maintaining core positions, with key support at the $230 level. A break below $225 would signal trend weakness. For new entries, wait for a pullback to the $220-225 zone for better risk-reward ratios.