Solana ($SOL) is indeed hovering in a high-stakes zone around $122, and the "oversold" narrative is gaining a lot of traction among analysts.
Here is a breakdown of why this moment is being compared to those specific historical points:
1. The Historical "Oversold" Context
The post you're looking at refers to extreme readings on the Relative Strength Index (RSI). When the RSI drops below 30 on high timeframes (like the Daily or Weekly), it suggests the selling has become overextended.
2023 Bear Market Lows: This was the post-FTX capitulation where SOL dipped into the single digits ($8–$10). Sentiment was at an all-time low, but it marked the literal bottom before a 1,000%+ rally.
April 2025 Washout: Earlier this year, we saw a similar "flush" where SOL dropped significantly, resetting the market before its mid-year push toward the $295 All-Time High set in January 2025.
Right Now (December 2025): SOL has pulled back from those highs and is currently testing a "line in the sand" support zone between $120 and $125
