SOL remains resilient despite recent flushout

• For now, SOL is managing to hold above the uptrend line.
• Last night's flush-out saw price retest into the local support at $65, from which it bounced nicely.
• The RSI has reset on the 12hr and the 1D, but the 3D and Weekly remain overbought, although last night's move was the first time we've seen a meaningful move down in the RSI on these bigger timeframes. Finally.
• SOL's Open Interest has reset from $1.1b to $900m, almost a 20% decrease.
• Funding has also reset to more neutral levels, indicating that the excess has been flushed out.

Cryptonary's take

 SOL was one of the plays that did need a flush out of some form.

Ultimately, this flush-out should be seen as positive for price action going forward.

We would be DCA buyers of SOL sub $60. However, better entries may come in the new year, where we may see a more substantial pullback into the $50s.