SOL is currently oversold with RSI below 30, indicating potential buying opportunity. Price has dropped below key moving averages but shows support near recent lows.
Current Market Situation
SOL is trading at $176.22, down 5.64% in 24 hours. The RSI reading of 27 suggests the asset is oversold, which often precedes a price bounce.
Technical Indicators
Price is below both the 20-day SMA ($183.43) and 50-day SMA ($185.01), indicating short-term weakness. However, oversold conditions suggest potential reversal.
Support and Resistance Levels
Recent local lows around $183-185 provide support, while resistance sits near $187-189 based on recent peaks. Volume has been elevated during the decline.
Trading Strategy
Consider buying near support levels for potential bounce. Set stop losses below recent lows. Take profits near resistance levels to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 183.5 USDT
Sell Price: 187.5 USDT
Key metrics
| Price | 176.2200 USDT |
| 24h Change | -5.64% |
| RSI(14) | 27.10 |
| SMA20 / SMA50 | 183.43 / 185.01 |
| Daily Volatility | 3.99% |
| Sentiment | Bullish |
| 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.
