Solana RSI Oversold Again: Level Worse Than FTX, SOL Drops Below $60
Solana (SOL) has entered deep oversold territory, with analysts saying current weakness is even worse than during the 2022 FTX collapse. After trading above $200 last year, SOL has spent 2026 mostly in the $60–$95 range.
A market chart shared by analyst “Ash Crypto” shows Solana’s monthly RSI falling to 38.84, below a signal line near 48.86. The article claims this RSI oversold reading is more extreme than the conditions seen when FTX went bankrupt and SOL later bottomed near $8. The key takeaway is that Solana RSI oversold can hint at seller exhaustion, but it does not confirm a bottom on its own.
Ash Crypto is questioning whether a price floor has formed. The bearish case is that SOL is still in a downtrend: it has posted eight consecutive red monthly candles and has already slid to a three-year low around $60 after dropping more than 80% from its 2025 all-time high. The article notes that Solana RSI oversold can persist for long periods, leaving room for further downside if support fails.
Historically, after the 2022 $8 low, SOL later surged above $270 in 2025 (about a 3,000% rebound). Traders are left watching whether this cycle’s oversold RSI on Solana marks a similar capitulation—or whether further liquidation is still ahead.
Bearish
This news is framed around Solana (SOL) being in an unusually severe Solana RSI oversold condition, but it explicitly warns that oversold can persist in a strong downtrend. The cited setup includes eight consecutive red monthly candles and a three-year low near $60, implying the market has not yet shown a reliable reversal signal.
From a trading perspective, this typically keeps risk skewed to the downside: oversold readings can trigger short-term bounces, yet without a confirmed turn (e.g., trend break, higher highs/lows), buyers may remain cautious. The article’s comparison to the 2022 FTX period is important, but the historical analogy is not a guarantee—2022’s later rally required additional catalysts and structural changes beyond RSI alone.
Short term: expect elevated volatility and potential “oversold bounce” attempts, but traders may treat rallies as fragile until SOL reclaims key levels and momentum improves. Long term: if capitulation is truly underway, buyers could eventually step in; however, the lack of a confirmed bottom means bearish control likely persists for now. Hence, bearish.