SOL/USDC Technical Analysis: Oversold Conditions Emerge
Solana (SOL) is under heavy selling pressure, currently hovering around $180.56 — a 7.18% drop over the past 24 hours. The 6-hour chart shows a sharp pullback from its recent high near $205.35.
Key technical signals are worth noting: the Relative Strength Index (RSI) has plunged to 17.13, placing SOL firmly in oversold territory. This level suggests that the current bearish momentum may be overextended, hinting at the possibility of price stabilization or a short-term rebound ahead.
That said, the MACD indicator continues to confirm a strong downtrend, so traders should keep a close eye on the $180 support zone, as a break below could open the door to further downside.
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