$SOL
is now one of the most oversold major altcoins we've seen in years.
• Solana just tagged a 3-year low around $60.
• Down roughly 80% from its all-time high.
• 8 consecutive red monthly candles — a first in its history.
• Monthly RSI is now more oversold than during the 2022 FTX collapse when SOL traded near $8.
What I'm seeing:
Extreme oversold conditions don't automatically mean the bottom is in, but they do suggest that a significant amount of downside has already been priced in.
What it means:
Historically, the best long-term opportunities often appear when sentiment is at its worst. The challenge is that oversold markets can stay oversold longer than most traders expect.
What I'm watching next:
• Whether SOL can reclaim and hold key support levels.
• Relative strength versus ETH and the broader altcoin market.
• Signs that buyers are stepping in on higher timeframes.
For now, SOL is firmly on my watchlist as a potential rotation candidate if market conditions improve.
Do you think the bottom is in for SOL, or is there still one more flush lower before the real reversal begins?
is now one of the most oversold major altcoins we've seen in years.
• Solana just tagged a 3-year low around $60.
• Down roughly 80% from its all-time high.
• 8 consecutive red monthly candles — a first in its history.
• Monthly RSI is now more oversold than during the 2022 FTX collapse when SOL traded near $8.
What I'm seeing:
Extreme oversold conditions don't automatically mean the bottom is in, but they do suggest that a significant amount of downside has already been priced in.
What it means:
Historically, the best long-term opportunities often appear when sentiment is at its worst. The challenge is that oversold markets can stay oversold longer than most traders expect.
What I'm watching next:
• Whether SOL can reclaim and hold key support levels.
• Relative strength versus ETH and the broader altcoin market.
• Signs that buyers are stepping in on higher timeframes.
For now, SOL is firmly on my watchlist as a potential rotation candidate if market conditions improve.
Do you think the bottom is in for SOL, or is there still one more flush lower before the real reversal begins?