🟣 Solana RSI Warning: SOL Chart Similar to 2022 Bear Market Layout

According to the chart shared by More Crypto Online, Solana's trading price is close to $84.27, and its weekly RSI is 35.8. The RSI remains above the key oversold threshold of 30, but the structure still appears weak after SOL failed to make a strong rebound from recent lows.
This chart compares the current Solana layout with the 2022 bear market phase, during which SOL traded sideways for a long period before reaching its final lows. More Crypto Online states that the current weekly RSI is similar to early conditions, especially after traders pointed out that the oversold reading in February could be a sign of recovery.
However, analysts warn that the chart still needs confirmation. In technical analysis, an oversold RSI may indicate strong selling pressure, but it does not always confirm a bottom. Price usually requires a clear upward impulse for the market structure to become stronger.
The chart shows a major RSI oversell event during the 2022 decline, when SOL later dropped to its final bear market low. A similar RSI zone appears again in 2026, with SOL trading near the lower end of its recent range. This comparison suggests that current layout still carries risks unless buyers regain control.
SOL's price is also well below its previous cycle high of over $200. After the recent decline, the token has been consolidating around $80. This price action indicates that buyers have not yet formed a strong reversal pattern on the weekly chart.
More Crypto Online states that the comparison from early 2022 remains valid until Solana forms a clear upward impulse. This means SOL needs stronger price action, not just low RSI readings, to confirm a recovery.
Currently, the weekly RSI shows signs of improvement from oversold territory, but the broader structure remains cautious. A strong breakout of the current range could improve the outlook.
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SOL
89.56
+5.48%