SOL/USD Technically Overextended

Solana against the USD has enjoyed a great bull rally, however technical analysis now points to downside.

Price has rebounded out of the 61.8% fibonacci extension level, and we anticipate a retracement into the previous highs. The 4H RSI is also indicating bearish divergence, and we are looking for a move to the 220 level.

Downside target: 220

Violated Above: 270