Solana is trading under pressure as short-term charts point to a possible move toward $81.65, while longer-term RSI readings show historic oversold conditions. However, analysts say the oversold signal supports only a possible bounce for now, not a confirmed long-term bottom.
Solana Price Faces Lower Pressure as $81.65 Level Comes Into Focus
Solana traded near $84.30 on the 1-hour chart as analysts watched whether the token would extend its latest downside move toward the $81.65 area.
The chart shared by MCO Global shows SOL moving below short-term resistance after failing to hold above the rising trendline. The breakdown placed attention on the next extension zones, with the 138% level near $81.65 marked as a possible downside objective.
SOL 1H Chart. Source: MCO Global on X
The analysis points to $85.86 as the key level for near-term pressure. As long as SOL stays below that area, sellers may keep control of the move. A push back above resistance would weaken the bearish setup and raise the chance that the latest low already formed.
The broader structure remains unclear because price action in both directions has developed through corrective moves. That makes the short-term wave count less reliable and limits confidence in a clean five-wave decline.
The chart also marks a wider support area between roughly $78.80 and $81.75. This zone includes several Fibonacci extension levels and previous reaction areas. If SOL reaches that range, traders may watch whether buyers defend it or whether the decline continues toward deeper support.
For now, the setup remains cautious. SOL has not confirmed a strong reversal, but the downside target remains active while price holds below resistance.
Solana RSI Hits Historic Oversold Zone as Long-Term Bottom Remains Unconfirmed
Solana’s daily RSI has reached its most oversold reading on record, while the weekly RSI has returned to levels last seen in December 2022, according to More Crypto Online.
The chart shows SOL trading near a key long-term support area after a sharp decline from its previous cycle structure. The analyst said those RSI readings support the case for a short-term bounce, but they do not confirm a long-term bottom.
SOL 1D Chart. Source: More Crypto Online on X
The daily chart marks a broader wave structure where SOL remains below a major resistance area. That keeps the recovery incomplete unless price breaks higher and holds above the marked resistance zone.
The chart also shows a possible upside retracement zone between roughly $110 and $139. This area includes several Fibonacci levels and may act as resistance if SOL continues to recover.
However, the lower support zone remains important. The chart marks wave iv support between about $43 and $62, with deeper downside levels near the $31 to $49 range if the broader corrective structure extends.
For now, the RSI data shows strong oversold conditions, not full trend confirmation. SOL may continue to rebound in the short term, but the long-term structure still needs a stronger breakout before analysts can confirm a durable bottom.
