$SOL has not expressed opinions on the counterfeit for several days because there is really nothing much to say! The rise of Bitcoin and Ethereum is so good, the counterfeit is taking off and will soon break out of Asia. As long as Bitcoin and Ethereum maintain their stability and don't get reckless, it would be unreasonable for the counterfeit not to take off. Especially Solana can be said to be the successor of Ethereum; if Ethereum doesn't work hard, Solana will directly replace Ethereum🉐.
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Looking at the chart, Solana's daily RSI is severely overbought, and there is definitely risk, but when this risk will appear is uncertain. Based on historical trends, when the RSI is overbought, it often faces a correction, but the timing of the correction is uncertain.
Sometimes, the RSI stays in the overbought zone for more than 20 days before a correction occurs, but this happens rarely. This time, it might happen that the RSI stays in the overbought zone; I must say that the sentiment of Trump being elected president is really strong!
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Continuing to look at the chart, Solana's daily Fibonacci has completed the 1 to 1 ratio and has even exceeded it. The resistance levels above are 221 and 1.618 at 232. If it can break through these levels and stabilize, it may challenge the previous highs on the weekly chart, or even reach new highs, just a little more effort is needed.
Having said the good things, let's talk about some risks! We can't only mention the good things! If Solana shows a correction, pay attention to the following levels; they might be your last opportunity to get in: 199-170-162. If it can correct to these three levels, those who haven't entered yet can start buying spot, managing positions in batches. Let's see if there will be an opportunity! Meeting adjourned.
