After SOL hit $264, it began to fall sharply. Will the price stop there, or will it prepare for a higher price? Is there still hope to break through $300? Old friends who hold SOL must read this.
Based on the recent sharp drop in SOL prices and the divergence of the RSI indicator, it shows that the adjustment of the token has not yet ended
Can SOL rise to $300?
After the overall market correction on the 25th of this month, SOL fell by about 10%, breaking through the $230 platform support. Although it has recovered more than $230, it still has not rebounded strongly, lagging behind the rebound strength of ETH
Due to the overheated market, BTC did not break through the psychological barrier of $100,000 for retail investors, triggering a sell-off of profit-taking, and thus SOL was also affected. For example, I have sold all of them near $260. The previous article also reminded me that I will wait for the opportunity to enter the market again. With the sharp correction of BTC, BNB XRP DOGE has experienced a large correction, so in the near future, we must watch more and do less.
The divergence of SOL's RSI indicator is expanding. The price rose from November 8 to 26 to form the highest point, but its RSI indicator fell every day, and the high point was constantly decreasing. According to the technical indicator analysis, the divergence between the rising price and the falling RSI indicates that the price increase is beginning to weaken, and the profit-taking is accelerating.
