Looking at SOL's trend, the technicals are indeed a bit uncomfortable. The moving averages have been suppressing the rebound for quite some time. Every time the price tries to stabilize, it gets pushed back down, and the trapped chips above are tightly stuck.

The RSI indicator reads 28, which is typically considered oversold according to conventional logic, but the problem lies in the trend direction. The overall movement is still downward, and in this situation, trying to catch the bottom is basically like walking into a flying knife. The MACD indicator shows no signs of movement; it’s still below the water, and there’s no indication of a rally, which suggests that selling pressure is indeed very strong.

What’s even worse is that the trading volume can’t keep up. This kind of shrinking volume decline is the most annoying because it’s impossible to see what the bottom really is. Currently, SOL is quoted at 133.90, and from a technical perspective, the bears still dominate.