Solana (SOLUSD) has been consolidating practically since the February 02 2026 Low as the 1W RSI hit 30.00 (oversold) and the market took a breather from massively oversold grounds.
This resembles technically June 06 2022 during the previous Bear Cycle when SOL's 1W RSI also (almost turned oversold). That market the start of Stage 2 (red Rectangle) of the Bear Cycle, right on the 0.5 Time Fibonacci level.
The 0.5 horizontal (price) Fib should technically act as a Resistance from now on, same as the 1D MA200 (red trend-line), which apparently just formed a Bearish Cross with the 1W MA50 (blue trend-line) around almost the same time as the 2022 Bear Cycle did.
Cycles are never completely identical but they are symmetrical due to similar market behavioral patterns and technically until the 1D MA200 breaks again, the Bear Cycle should continue (like it did in 2022, which ended once it broke).
As a result, the minimum Target moving forward, should be $36.00, as that is the 1.0 Fib level, down from the 0.618 Fib we are now, based on the symmetry with 2022 and assuming it continues to stand.
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This resembles technically June 06 2022 during the previous Bear Cycle when SOL's 1W RSI also (almost turned oversold). That market the start of Stage 2 (red Rectangle) of the Bear Cycle, right on the 0.5 Time Fibonacci level.
The 0.5 horizontal (price) Fib should technically act as a Resistance from now on, same as the 1D MA200 (red trend-line), which apparently just formed a Bearish Cross with the 1W MA50 (blue trend-line) around almost the same time as the 2022 Bear Cycle did.
Cycles are never completely identical but they are symmetrical due to similar market behavioral patterns and technically until the 1D MA200 breaks again, the Bear Cycle should continue (like it did in 2022, which ended once it broke).
As a result, the minimum Target moving forward, should be $36.00, as that is the 1.0 Fib level, down from the 0.618 Fib we are now, based on the symmetry with 2022 and assuming it continues to stand.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.