Is Solana finally done crashing? Here is what I am seeing right now๐Ÿ‘‡

If you look closely at that very last candle you will notice a long line reaching all the way down to 60.13 before bouncing straight back up to 63.41.

To me this means that as soon as the price touched that low level a bunch of buyers stepped in heavily and started pushing it back up.

It looks like a temporary bottom has finally been found around that 60 area.

Now let me share something even more fascinating from my technical view of the indicators.

The RSI line at the bottom is sitting way down at 23.27 right now.

In my experience whenever a huge coin drops below 30 on the 4 hour chart it enters the extremely oversold zone.

Historically the market cannot keep pushing a major asset down when it is this exhausted.

This usually triggers a sharp technical bounce back because short term sellers start taking their profits and the price gets some room to breathe.

I also checked the volume bars and they are definitely rising on these latest candles.

This tells me that whales are actively trading in this 60 to 63 zone to turn things around.

I really think we are going to see a relief rally pushing back toward the 66 and 68 resistance levels very soon. Let us stay patient and watch how this bounce plays out.

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