Solana (SOL) dropped from $248 on November 18, but the slight correction shows that the bulls are not in a hurry to exit.
Daily SOL/USDT chart | Source: TradingView
Both moving averages are trending upwards, and the RSI is in the overbought zone, signaling that the main trend is still bullish. Strong resistance is at $260, but if the bulls break through, the SOL/USDT pair could reach $304.
On the contrary, if it fails to break through the resistance zone of $248–$260, this could cause short-term traders to take profits, pulling the price back to the 20-day EMA ($209).
