Solana Stabilizes At $122 Support As Oversold Signals Strengthen

SOL is trading around the $122.66 support, and it is sensitive to the market around this zone since the market has experienced a substantial drop.

Crowded RSI and disguised bullish divergence are used to indicate that the momentum may change as the price levels off towards the lower trend line.

The range is narrow with an average of $122.66 to $129.97 per day and the next level to follow is breaking out above the resistance of $129.97.

Solana(SOL) moved within a restricted range on the daily chart as the token traded at $127.64 during the latest session. The price recorded a 0.5 percent increase in 24 hours, yet it stayed close to the lower portion of its recent formation. The market continued to watch the $122.66 support level because the token approached this zone after several sessions of downward movement

The RSI also dropped into oversold territory, and the chart displayed a hidden bullish divergence that added further attention to the current position. These elements shaped the discussion around the next potential directional move and created a defined framework for evaluating short-term behavior.

SOL Rebounds as Oversold RSI Signals Hidden Bullish Strength

The daily range placed the token between $122.66 and $129.97, and this band remained tight as price action pressed against the lower boundary. The chart also included a completed corrective structure marked by three internal legs, and this pattern connected the earlier decline with the current support test. However, the rebound from the lower trend line created a reference point for evaluating where the next attempt to retest the upper boundary may begin

This setup led into further observations centered around intraday movement. The RSI closed at around 30, which was among the lowest readings of the recent weeks. Such value was in line with the concealed bullish convergence that was created between past lows and the present position

The divergence appeared as price reached the extended trend line drawn from earlier points in the pattern, and this alignment brought renewed focus to the relationship between momentum and structure. As this connection became clearer, the market tracked how price responded to the oversold reading within the tight range.

Chart Tracks Completion of C-Wave Structure

The drawn structure placed the latest decline as part of a projected C-wave, and the chart displayed a possible reaction from that level. The shift between the lower trend line provided a visual guide on where buyers had reached out in the past and this assisted in determining the area that currently pins in the support region. The next level of resistance is the near-term resistance of $129.97 as the token kept on trading near the bottom of its established range.