Solana price analysis (Bullish) — 241.45 USDT (+6.46% 24h)

SOLUSDT is showing strong bullish momentum, trading at $241.45 with a notable 6.46% gain over the past 24 hours. The RSI reading of 83.66 indicates the asset is heavily overbought, suggesting potential for a near-term pullback. However, the price remains well above both the 20-day SMA ($234.76) and 50-day SMA ($228.54), confirming the underlying uptrend remains intact. The high 24-hour volume of $1.23 billion demonstrates substantial market participation in this move. Given the elevated volatility of 2.70%, traders should consider taking partial profits here and looking for better entry points on any dip toward the $235 support level. Risk management is crucial – set stop losses below $230 to protect gains while allowing room for continued upward movement.