SOL May Have Hit Bottom: Key Signals for a Rally
Technical indicators suggest a SOL bottom may have formed after a 25% drop in Solana (SOL) price. The 4-hour chart shows price breaking below $200 support but holding an ascending channel. A potential double bottom and bullish RSI divergence signal a SOL bottom and set the stage for a rally toward $250. Daily charts point to trendline resistance; however, Stochastic RSI crossovers hint at upcoming upside momentum. Weekly support at $188 could limit further declines. Failure to bounce on the weekly Stochastic RSI may lead to deeper corrections. Traders should monitor key levels and confirmation signals before entering long positions.
Bullish
The emerging technical signs on Solana’s charts—namely a potential double bottom on the 4-hour timeframe, bullish RSI divergence, and supportive channel trendline—indicate a shift in momentum from bearish to bullish. Historically, similar RSI divergences and double bottoms on Solana’s 2025 charts preceded rallies exceeding 20%, as seen in January when an RSI dip to low levels triggered a rebound. Additionally, daily Stochastic RSI cross-ups often herald short-term recoveries. While weekly support at $188 offers a safety net, failure to hold could reverse sentiment. Overall, these indicators suggest a near-term bullish outlook, encouraging traders to anticipate a relief rally and consider long positions upon confirmation.