SOL is currently in a downtrend with oversold conditions, suggesting potential for a bounce. Recent price action shows support near $218 and resistance around $234.
Current Market Position
SOL is trading at $219.63, down 5.74% in 24 hours. The RSI of 36 indicates oversold conditions, which often precedes price rebounds.
Support and Resistance Levels
Key support (buy zone) is near $218 based on recent lows. Resistance (sell zone) is around $234 from recent highs where price has struggled to break through.
Moving Average Analysis
Price is below both 20-day ($223) and 50-day ($229) SMAs, confirming the downtrend but also suggesting potential for reversal if oversold conditions persist.
Trading Strategy
Consider buying near support at $218 for a bounce toward resistance at $234. Use stop-loss orders below $215 to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 218 USDT
Sell Price: 234 USDT
Key metrics
| Price | 219.6300 USDT |
| 24h Change | -5.74% |
| RSI(14) | 36.35 |
| SMA20 / SMA50 | 223.03 / 229.24 |
| Daily Volatility | 3.26% |
| 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.
