Solana (SOL) is among the top-performing cryptocurrencies in the market. It has recorded a price increase of over 500% year-to-date, climbing from $9.9 to $68.4.

Despite these substantial gains, SOL could be poised for a brief correction before the uptrend resumes.

SOL Price Shows Signs of Exhaustion

The Tom DeMark Sequential Indicator, commonly called the TD Sequential, suggests that SOL may have reached a local peak. It has presented a green nine candlestick on Solana’s weekly chart, a bearish formation.

This sell signal aligns with the Relative Strength Index (RSI) hovering with the overbought territory. The RSI stands at 75 on Solana’s weekly chart, indicating a potential trend reversal or corrective price pullback.

If these bearish signs materialize, Solana could see a spike in profit-taking, triggering a correction that may last one to four weekly candlesticks.

The TD Sequential is a technical analysis tool designed to identify potential buying and selling opportunities by predicting trend exhaustion points. It is based on a seri

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Author: Ali M.

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