SOL reaches $180, first time since July.
Chaikin Money Flow at 0.28 and MFI above 80 suggest overbought conditions.
Price targets: potential retreat to $161.81, or direct push to $200 if $185 breaks.
Solana (SOL) has achieved a major milestone, touching the $180 mark for the first time since July, sparking widespread speculation about its potential to reach $200.
While this surge demonstrates impressive momentum, technical indicators suggest the possibility of a consolidation phase before further advances.
The Chaikin Money Flow (CMF) indicator provides crucial insight into SOL’s current market dynamics. Reading 0.28, the CMF has entered overbought territory, surpassing the typical threshold of 0.20.
While this level confirms strong buying support for the recent price movement, it also signals potential exhaustion in buying pressure.
A price correction for Solana is impending
Complementing the CMF’s warning signals, the Money Flow Index (MFI) has exceeded 80.00, furthe
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