$SOL
🚨Solana’s RSI Signals Ongoing Weakness Below Key Level🚨
The Relative Strength Index (RSI) remains under the halfway mark of 50 on the hourly frame, confirming that recent bounces off prices have not been strong enough. For most of the RSI’s duration on the chart, it remained in the lows, with only a short-lived bounce that liked to fall again.
The failure to enter bullish territory demonstrates weakness and fading confidence from buyers. Of particular interest is the earlier dip of the RSI around the 30 level when prices had tried to make a small rally that failed to hold.
Since then, the RSI has notched lower again in tandem with price rejection in the $150-$155 region. Too bearish momentum is outlined by the RSI since no solid break above 50 was registered.