SOL/ETH Trading on Binance Overbought as RSI Indicates Bull Breather Possible
According to TradingView, the SOL/ETH spot pair trading on Binance has surged over 15% since October 1, extending a three-month winning trend. However, the rally now appears overstretched as the 14-day relative strength index (RSI) has crossed well above 70, indicating overbought conditions. This comes as the pair set a record high of 0.069 on Wednesday due to a renewed boom in Solana's network activity. While an RSI above 70 does not necessarily mean the end of the bull run, a potential pullback may find support at 0.064, the August high.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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