TLDR
- SOL rebounds close to $75, which is a crucial weekly pivot area.
- The cycle structure indicates a possible accumulation stage.
- The weekly RSI reaches a historic oversold level with a bullish divergence.
- If the support fails, it could lead to a downward movement towards $50.
The price of Solana (SOL) continues to trade near a critical weekly turning – point area as analysts assess whether the recent rebound represents accumulation or just a temporary halt. Charts show strong reactions around the , with some models suggesting cycle resets and others warning of a deeper decline. The main scenarios now range from a recovery phase to a potential retest near $50.
Solana Price Cycle Structure Hints at Accumulation Phase
According to analyst Trader Tardigrade, the weekly Solana price structure reflects the cyclical repetition seen in previous bull – market setups. His chart shows an extended period of horizontal consolidation, where the price repeatedly defended a clearly defined support range. Such sideways movement after an impulsive move often signals re – accumulation rather than a trend breakdown.
A notable characteristic is the rounded cycle low formation below the price. Historically, similar rounded bases formed near major support levels before significant upward expansions. In the current situation, Solana briefly dropped below the support, cleared the liquidity, and then regained the level. This sequence suggests that sellers are exhausted rather than having sustained bearish control.
From a broader perspective, the projected structure implies a transition into a new bullish cycle if the support holds. The recent decline is regarded as a structural reset within a larger trend. As long as the regained support remains intact, the overall Solana price trend is considered technically viable.
Momentum Data Flags Historic Oversold Conditions
Meanwhile, Inmortal’s weekly RSI – focused chart shifts the focus to rather than the price structure. The most significant sign is that Solana has reached its lowest weekly RSI reading on record. Historically, such extreme momentum compression has occurred near macro bottoms rather than during mid – trend pullbacks.
Price action shows that the Solana price is retracing into a long – term demand zone that previously acted as resistance. More importantly, a positive divergence is emerging. While the price made lower lows, the RSI failed to confirm similar weakness. This divergence indicates that the selling pressure is weakening beneath the surface.
Inmortal’s view suggests that a mean reversion phase could follow once the momentum resets. Deeply oversold weekly RSI conditions, combined with historical demand, often precede trend reversals. Although the timing is still uncertain, the downside risk seems to be decreasing rather than increasing.
Macro Caution Remains as Key Support Faces Pressure
In contrast, analyst Crypto Tony presented a more conservative macro outlook. The chart highlights reacting to the $75 support level, which is a historically important pivot between bullish and bearish trends. The current bounce confirms buyer interest, but there is still no structural confirmation.
Unlike the cyclical models, this view emphasizes the lack of a confirmed higher low on the weekly time frame. The price remains prior resistance, and the overall structure still resembles a macro downtrend. Lower highs continue to dominate the technical picture.
The analyst’s projected scenario includes a potential move towards the $50 area. That area aligns with prior consolidation and high – value demand from earlier cycles. The analysis emphasizes patience and risk management, noting that reactive bounces alone do not define a long – lasting macro bottom for the Solana price.
