Solana price has entered a critical phase after plunging to its lowest level since June 23, reflecting mounting selling pressure across the crypto market. Technical indicators across multiple timeframes show waning bullish momentum and a higher risk of further downside, as SOL edges toward key support levels with momentum oscillators turning negative.
On the 4-hour chart, the Relative Strength Index (RSI) continues to issue warning signals as bearish pressure grows. The RSI currently sits at 36.80, sliding toward the oversold threshold and the deeper extreme near 30.
A continued move into this zone typically reflects accelerating bearish momentum and precedes sharper declines or capitulation-driven sell-offs. The RSI’s repeated rejection of the neutral 50 line indicates that bulls have struggled to regain control, reinforcing seller dominance. Unless the RSI rebounds firmly above the 50.00 range, the risk of further downside remains high.
Summary of current dynamics:
- Solana’s price recently dropped to its lowest since mid-year, signaling intensified selling pressure.
- Bearish momentum is evident across several timeframes, suggesting a higher probability of continued declines if selling persists.
- Key support levels are in focus, with a potential correction if selling accelerates.
Market context and potential scenarios:
- Near-term risk hinges on whether price can hold above critical support and whether momentum indicators reverse back toward neutral or bullish territory.
- If selling continues, targets around the next major support zone could emerge, with further downside possible if breaks occur on high volume.
- Conversely, a strong RSI rebound above 50 could signal temporary relief, but a sustained recovery would likely require accompanying bullish price action and positive market sentiment.
Author’s note: This analysis focuses on technical indicators and price action; fundamental catalysts and ETF/market dynamics can alter outcomes quickly.
Author’s summary: SOL remains vulnerable in the near term, with bearish momentum and key support levels likely to determine whether further declines materialize.
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