🟣 Solana RSI Warning: SOL Chart Mimics 2022 Bear Market Setup

Solana is trading near $84.27, while its weekly RSI stands at 35.8, according to a chart shared by More Crypto Online. The RSI remains above the key oversold threshold of 30, but the structure still indicates weakness after SOL failed to recover strongly from recent lows.
The chart compares Solana's current setup with the 2022 bear market phase, when SOL moved sideways for an extended period before eventually reaching its lowest level. More Crypto Online states that the weekly RSI now resembles that previous condition, especially after traders noted the oversold reading in February as a potential recovery signal.
However, analysts warn that this chart still requires confirmation. In technical analysis, an oversold RSI can indicate strong selling pressure but does not always confirm a price bottom. Prices often need a clear upward impulse before the market structure becomes more robust.
The chart shows one major oversold RSI event during the 2022 decline, when SOL then dropped toward its final bear market bottom. A similar RSI zone appears again in 2026, while SOL is trading near the lower end of its recent range. This comparison suggests that the current setup still carries risks unless buyers regain control.
SOL's price also remains well below its previous cycle peak above $200. After the recent dip, the token has moved sideways around the $80 area. This price action indicates that buyers have yet to establish a strong reversal pattern on the weekly chart.
More Crypto Online states that the early 2022 comparison remains valid until Solana forms a clear impulsive move upward. This means SOL needs stronger price action, not just a low RSI reading, to confirm a recovery.
For now, the weekly RSI shows an improving condition from oversold territory, but the broader structure remains cautious. A strong breakout from the current range could improve the outlook.