Solana Hits Oversold Levels as Traders Point to a 2022 Style Setup

Solana’s selloff has pushed weekly momentum toward levels that two traders say matched past turning points. Now, both charts frame the $80s zone as a possible base before the next major move.

GalaxyBTC compares Solana’s 2026 setup to the $8 phase in 2022

Solana’s weekly chart has started to resemble its 2022 structure that formed when SOL traded near $8, according to X user GalaxyBTC, who shared a TradingView snapshot dated Feb. 9.

Solana Weekly SOLUSD Chart. Source: GalaxyBTC on X

The chart shows SOL sliding into a long, downward sloping level marked in blue, which the post frames as a repeat of a prior cycle where price based for months before turning higher. At the same time, the analyst highlighted the 14 period RSI and urged traders to “check the RSI,” pointing to similar momentum behavior around earlier lows.

In the snapshot, RSI (14, close) sits near 37.26, while a lower reference marker appears near 29.39, which sits close to the oversold threshold. As a result, the post suggests weakening momentum may be reaching an exhaustion point, even as price remains under the descending level drawn across the weekly structure.

DonWedge says Solana bottom is set as SOL tests oversold RSI

Solana may have already printed its cycle low and could be preparing for another advance, according to crypto trader DonWedge, who shared a TradingView chart on X and said “the bottom is in” for SOL.

Solana 3 Day SOLUSD Chart. Source: DonWedge on X

The 3 day SOL U.S. dollar chart showed SOL near $83.99 at the time of the screenshot, down about 3.38% on the session. The analyst marked a steep decline from the late 2025 peak into early 2026, then overlaid a projected rebound path that rises toward the $400 area, with a label near 401.947.

At the same time, the chart’s RSI panel showed a reading near 27.68, which sits below the common 30 threshold often used to flag oversold conditions. As a result, the post framed the combination of the sharp drop and the weak momentum reading as evidence that selling pressure may have reached an exhaustion point.