SOL is currently in a strong downtrend with oversold conditions. The price has dropped significantly from recent highs, presenting potential buying opportunities near support levels.
Current Market Situation
SOL is trading at $183.08, down 17.5% in 24 hours. The RSI at 17 indicates extreme oversold conditions, which often precedes a bounce.
Technical Indicators
Price is below both 20-day ($199.77) and 50-day ($212.55) moving averages, confirming the downtrend. High trading volume suggests strong selling pressure.
Support and Resistance Levels
Recent local lows around $217-220 provide resistance, while current price action suggests support may form near $180-185 based on recent bounces.
Trading Strategy
Consider buying near current levels as oversold conditions may lead to a short-term recovery. Set stop losses below recent lows to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 180.0 USDT
Sell Price: 220.0 USDT
Key metrics
| Price | 183.0800 USDT |
| 24h Change | -17.51% |
| RSI(14) | 17.15 |
| SMA20 / SMA50 | 199.77 / 212.55 |
| Daily Volatility | 4.38% |
| Sentiment | Bearish |
| Risk level | High |
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.
