SOL/USDT - Potential of 25% Drop?

BYBIT:SOLUSDT.P   SOLUSDT Perpetual Contract
SOL/USDT shows a recent re-test of the middle line of the Bollinger Bands. As we see, we had a nice push from there, but there is potential for another re-test of that same middle line.

We also see that the RSI's yellow line is still in the overbought zone, suggesting that the price could potentially decline as it did the last time it was in this condition, experiencing a 25% drop.

Swallow Team


SOL coin has also some struggles on smaller timeframe here but we see the tightening of BB indicator here which tells us a potential sharp movement might come sooner or later here. We also have 2 resistance lines that we need to hold in order to see further drop on daily timeframe.

We are looking for a breakdown from EMAs and a re-test to secure that zone.

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