SOL slows down; now, the consolidation begins

• Currently, there is the local support of $65 beneath price, along with the more major horizontal support at $61. If these levels are lost, $56 and then $52 will be the targets. Both of these would be good DCA'ing areas.
• Still, the RSI on the 3D and the Weekly remains in overbought territory, which suggests that we’re likely to see more downside or at least a consolidation for a month or so, likely sub $60. Price could potentially consolidate between $52 and $60, resetting these larger timeframes.

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

This was absolutely needed for SOL.

Cryptonary's take

However, in the next few months, we see SOL likely consolidating for a while.

This consolidation may see price go to $48, and we may become range bound between there and $60. 

But it's our feeling that we see more pullbacks and a consolidation of those ranges. After all, it’s a major cap coin that was close to quadrupling in just two months - from $21 in mid-October to the high of $77 last week. 

We remain patient with SOL; we believe there will be good long-term entries in the coming months in the $50s.