Solana Price Hits $106 Amid Overbought Risk and Bullish Setup

Solana's price has surged to $106 as its hourly Relative Strength Index (RSI) tops 80, indicating an overbought risk. Despite this, the daily chart shows a bullish setup with all major moving averages far behind, suggesting room for the trend to continue.

The daily RSI14 sits at 60.18, which is constructive but not extreme, while the MACD histogram has turned negative at -0.76, indicating momentum deceleration even as price remains near its highs. The Bollinger Bands show that price is pressed against the upper band at $106.56, leaving little room for further upside before a breakout or pullback.

On lower timeframes, the hourly and 15-minute RSI readings are deeply overbought above 80, with momentum flattening on the shortest timeframe. The Fear & Greed Index reads 56 (Greed), suggesting volatility could persist in either direction.