#solana hits a new all-time low on its weekly RSI
Solana just hit the lowest point ever on the RSI, even lower than November-December 2022.
In December 2022, the previous all-time low, Solana traded at a price of $8. The weekly RSI hitting the lowest ever signaled a true bottom and a strong trend reversal. It signaled the start of a bull market that ended only in January 2025.
This is the same signal we have today. Solana went even lower on the weekly RSI and this gives us an extreme oversold condition.
The RSI peaked December 2023, so it has been dropping for more than two years. With this major low, a reversal can happen anytime now. We can expect bullish action next.
The RSI being oversold and at an all-time low doesn't necessarily means that a price reversal will happen right away, but it is a very strong reversal signal nonetheless. It can easily support a bullish cycle, one lasting several months.
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