Solana May Have Hit a ‘Final Dip’ as Weekly RSI Hits Oversold—Watch Reclaimed Level for Confirmation
Solana (SOL) shows signs of a potential cycle turning point on the weekly chart after a sharp selloff and quick reclaim of a long-term horizontal support/resistance zone. Trader Tardigrade (@TATrader_Alan) calls the drop SOL’s “final dip,” noting that sustained weekly closes above the reclaimed multi-cycle level would favor a bullish trend continuation. Separately, DrBullZeus (@DrBullZeus) highlights an unusually oversold weekly RSI(14) in the low-30s on SOL/USDT after price briefly fell into the high-$80s before reclaiming that area. Key confirmation signals for traders are: (1) weekly closes staying above the reclaimed horizontal zone; and (2) RSI stabilizing and turning higher — both would indicate a momentum reset and raise odds of a reversal. Conversely, a weekly close back below the reclaimed level or a persistently pinned oversold RSI would increase downside risk and prolong consolidation. Practical trading notes: keep position sizing tight, watch weekly close levels for confirmation or failure, use RSI trend and support/resistance flips as primary triggers, and prepare for higher volatility around the decisive weekly close.
Neutral
The combined coverage flags a potential bullish reversal but stops short of definitive confirmation, so the net market impact is neutral until confirmation arrives. Bullish indicators: SOL reclaimed a long-term horizontal support/resistance zone and the weekly RSI is at historically oversold levels — both conditions historically precede cycle lows and can presage rebounds. Bearish/neutral indicators: confirmation depends on weekly-closing price action and RSI behavior; a failure to hold the reclaimed level or an RSI that remains pinned in oversold territory would extend consolidation or trigger further downside. For short-term traders, the news increases event-driven volatility around weekly closes and sets clear technical triggers: a weekly close above the reclaimed zone plus an RSI uptick would be a bullish signal for swing trades, while a weekly close below that zone or persistent RSI compression would favor protective positioning or short bias. For longer-term investors, the reclaim is constructive but not decisive — they should wait for multi-week confirmation and broader market context before adjusting core exposure.