Solana price analysis (Bullish) — 158.72 USDT (-9.80% 24h)

SOL is showing significant technical weakness as it trades at $158.72, down nearly 10% over the past 24 hours. The current price sits below both the 20-day SMA ($166.92) and 50-day SMA ($176.34), indicating strong bearish momentum. However, the RSI reading of 25 suggests SOL is deeply oversold, potentially setting up for a short-term bounce. Trading volume remains robust at $1.22 billion, showing continued institutional interest despite the price decline. The elevated volatility of 4.85% indicates heightened market uncertainty. For traders, consider scaling into long positions near current levels with tight stops below $150, targeting a retest of the $166 resistance level. Short-term traders might wait for RSI to recover above 30 before entering new positions. The risk-reward appears favorable for contrarian buyers given the extreme oversold conditions.