SOLANA: Has the storm passed?

When the RSI of an asset falls below 30, it is considered oversold.

This usually signals a potential price reversal or recovery, as traders look for buying opportunities at low prices.

Historically, these oversold conditions have preceded sharp recoveries.

Thus, $SOL may be ready for a rise if market participants interpret this as a buy signal and increase their accumulation of the coin.

$SOL is currently trading at $141.67 at the time of posting, slightly above the support level of $136.62. If the altcoin witnesses a resurgence in buying pressure, this support level will strengthen, pushing the price towards $182.31, where significant resistance lies.

A successful breakout of this level could push the coin's price above $200 to trade at $222.14.

On the other hand, if the downtrend continues, the price of $SOL could fall to $120.72.