🔮🚨 Solana's New 'All-Time High' - Will This Trigger An Altcoin Season?
📈 SOL's RSI has entered the overbought zone, which could trigger a price correction.
Bitcoin's latest bout of appreciation has sent the cryptocurrency market into a bullish mood. Several altcoins followed suit and these cryptocurrencies also saw significant increases on the price charts.
☝️ In fact, Solana [SOL] was one of the best performers in the market and SOL also hit a new milestone in the process.
This price surge also allowed the altcoin to hit a new milestone. SolanaFloor, a popular X account that shares updates related to the blockchain ecosystem, recently revealed that SOL's market cap dominance hit 3.8%, an all-time high. As SOL broke above $200 and its market dominance hit an ATH, it seemed likely that this surge could, in turn, help kick off a new altcoin season soon.
🧐 However, the possibility of a price correction cannot be ruled out as Solana's relative strength index (RSI) entered the overbought zone.
If a correction occurs, SOL could fall back to its support at $187.
DYOR 💡☝️
