Solana Price Prediction as SOL Gains 150% in 30 Days – Time for a Pullback?

cryptonews.com:

The Solana price has dipped by 1% in the past 24 hours, with its fall to $58.69 paring down some of the huge gains the altcoin has made in the past few weeks.

Yet despite today’s slip, SOL remains up by a market-leading 46% in a week and by a whopping 165% in the last 30 days, making it the best-performing top-100 coin over this latter period.

And given that it has recovered by more than 480% since the start of the year, SOL certainly has enough momentum to push further gains in the coming weeks.

Technically, Solana has been in overbought territory for a couple of weeks now, yet it seems to have enough staying power and momentum to post further gains.

Its relative strength index (purple) is nearing 90, having been above 70 mid-to-late October, showing how it has the ability to sustain buying pressure.

Likewise, SOL’s 30-day average (yellow) continues to rise higher above its 200-day average (blue), having overtaken the latter around the middle of October, when it began to break out.

And while it may be tempting to fear that the Solana price is due to correct downwards soon, its 24-hour trading volume remains very high.

From about $175 million a month ago to $2.4 billion today, it’s clear that the coin is attracting high levels of demand.