This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Solana (SOL) has experienced a pause in its upward trend since November 15, resulting in a sideways movement. The cryptocurrency has managed to stay above the moving average lines, but its recent rejection at the $60 high suggests that further gains are unlikely. If the sellers manage to break the $51 support or the 21-day SMA, SOL could see a decline towards the 50-day SMA or the $36 support level. The price bars on the 4-hour chart indicate a sideways trend, with the moving average lines sloping horizontally. The market is currently in the overbought zone, and selling is predicted near the recent high. Solana is considered to be overvalued at the moment. The altcoin is currently trading between $51 and $68 per coin, with a potential decline expected if it encounters rejection at $60. It should be noted that this analysis and forecast are the personal opinions of the author and should not be taken as a recommendation to buy or sell cryptocurrency. Readers are advised to conduct their own research before making any investment decisions.