SOL is currently in a downtrend with oversold RSI, suggesting potential for a bounce. Recent price action shows support near $184 and resistance near $194.
Current Market Position
SOL is trading at $183.22, below both 20-day and 50-day moving averages. The RSI of 34 indicates oversold conditions, which often precedes price rebounds.
Support and Resistance Levels
Key support levels are around $184-185 based on recent local lows. Resistance sits near $194 from recent highs. Price is testing support after a 5% daily drop.
Trading Strategy
Consider buying near support levels for a bounce play. Set stop losses below $183. Target resistance levels for profit taking. Volume patterns show selling pressure may be easing.
Beginner Recommendations
Advice: buy
Buy Price: 184.5 USDT
Sell Price: 193.5 USDT
Key metrics
| Price | 183.2200 USDT |
| 24h Change | -5.17% |
| RSI(14) | 34.63 |
| SMA20 / SMA50 | 188.48 / 189.09 |
| Daily Volatility | 4.38% |
| Sentiment | Neutral |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
