For my analysis, I only consider the volume indicator and the RSI, with the RSI being the one I use the most because I find it excellent and very reliable when waiting for signals of price changes.

The current recovery of $SOL begins in mid-Oct 2023 with a continuous and sustained rise that led the indicator to be at overbought levels of more than 80, where by the end of Dec 2023 it creates a level around $122. From there, the indicator and the price take a small break, and by the end of Jan 2024, the new impulse begins that exceeds the $122 level and gives rise to a support level that the price has confirmed over time. In this last impulse, the indicator again reaches high overbought levels of more than 80 and brings the price to a maximum of $210.

Since then, the price has been moving sideways in a wide range without giving clear signals of taking any specific direction.

But what I want us to see in the chart is the level of 70 in the RSI. I want you to see how the price, upon reaching that level, has had drops of 34% the last two times it reached it, fulfilling the role of resistance. Additionally, the indicator also goes to the other extreme where it reaches oversold levels of 30.

Currently, it has reached that level for the third consecutive time, and that’s where I open the question: What will happen? Will we have another drop? Will it go again to the level of 30 which coincides with the support of $122?

What do you think?... I’m reading you!! 😉