The post Solana (SOL) Drops 4% as Selling Pressure Intensifies appeared on BitcoinEthereumNews.com.

Solana (SOL) has recovered over 12% today after Trump announced a 90-day pause on tariffs. Despite the significant recovery, technical indicators continue flashing bearish warnings. Key indicators like the RSI, BBTrend, and EMA lines all point to weakening momentum and a lack of buyer conviction. While oversold conditions have started to stabilize, the broader structure still leans slightly in favor of sellers. Solana RSI Shows The Lack Of Conviction Among Buyers Solana’s Relative Strength Index (RSI) is currently sitting at 45.52, hovering in neutral territory but remaining below the midline of 50 for nearly two days. This comes after the RSI briefly dipped to an oversold level of 21.53 two days ago, indicating that sellers had briefly dominated before demand began to stabilize. The RSI’s slow climb back toward neutral suggests that while extreme selling pressure has eased, bullish momentum has not yet taken control. SOL RSI. Source: TradingView. The RSI is a momentum oscillator that measures the speed and magnitude of recent price movements. It typically ranges from 0 to 100. Readings above 70 are generally interpreted as overbought, signaling the potential for a pullback, while readings below 30 suggest oversold conditions and potential for a rebound. Solana’s RSI at 45.52 indicates that the asset is in a recovery phase but lacks conviction. If the RSI fails to cross above 50 soon, it could imply continued hesitation among buyers and the potential for sideways price action or even another leg lower. SOL BBTrend Has Reached Its Lowest Levels In Almost A Month Solana’s BBTrend indicator is currently at -14.19, having turned negative since yesterday, and is at its lowest level since March 13—nearly a month ago. This shift into deeper negative territory suggests that bearish momentum is building once again after a period of relative stability. The return to these…

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Filed under: News - @ April 10, 2025 4:21 am