🚀 $SOL – Weekly Extreme Oversold Long Setup

Current Price: ~$76.8

Timeframe: 1W (Weekly)

I’ve been watching $SOL closely, and after the massive correction from the $295 high, price is now sitting in a major macro support zone around $75–$80.

In my view, this is deep retracement territory and a potential high-risk, high-reward reversal area.

📊 What I’m Seeing on the Chart

✔ RSI (6) around 12 → Extremely oversold (rare level)

✔ RSI (12) below 25 → Strong momentum exhaustion

✔ Multiple weeks of aggressive selling

✔ Price stretched far below EMA(25) & EMA(99)

✔ Rising sell volume → Possible capitulation phase

Historically, whenever weekly RSI drops into the 10–15 zone, we often see strong relief bounces.

🎯 My Trade Plan (High-Risk Reversal Idea)

Entry Zone: $74 – $80

Stop Loss: Below $68 (weekly breakdown confirmation)

Targets:

TP1 → $95

TP2 → $115

TP3 → $130

If the bounce confirms, recovery could be aggressive due to how oversold the market currently is.

🧠 Why I’m Considering This Long

• Panic selling into major support

• Weekly RSI at extreme lows

• Heavy deviation from key moving averages

• Strong mean reversion potential

• Favorable risk/reward for a bounce play

⚠️ Important: This is still a counter-trend setup. The overall trend remains bearish, so proper risk management is key. I’m avoiding overleveraging and treating this as a tactical trade — not a blind long.