Solana price analysis (Bullish) — 235.86 USDT (-0.11% 24h)

SOL is currently trading at $235.86, showing a slight 24-hour decline of -0.106%. The RSI reading of 37.29 indicates the asset is approaching oversold territory, which often presents potential buying opportunities for swing traders. Price is hovering near both the 20-day SMA ($236.38) and 50-day SMA ($235.45), suggesting a critical technical juncture. The relatively high volatility of 2.83% combined with substantial 24-hour volume of $775M signals active market participation. Given the oversold RSI and proximity to key moving averages, I recommend considering long positions with tight stop-losses below $230. A break above $240 could trigger momentum toward $250 resistance. Monitor Bitcoin’s movement closely as SOL typically correlates with broader market trends.