{"id":3956,"date":"2025-04-09T04:11:08","date_gmt":"2025-04-09T04:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/oversold-altcoins-like-solana-flash-bullish-divergences-are-relief-bounces-coming\/"},"modified":"2025-04-09T04:11:08","modified_gmt":"2025-04-09T04:11:08","slug":"oversold-altcoins-like-solana-flash-bullish-divergences-are-relief-bounces-coming","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/oversold-altcoins-like-solana-flash-bullish-divergences-are-relief-bounces-coming\/","title":{"rendered":"Oversold Altcoins Like Solana Flash Bullish Divergences \u2014 Are Relief Bounces Coming?"},"content":{"rendered":"

Solana has faced intense selling pressure over the past week as the broader crypto market reels from the impact of US President Donald Trump\u2019s aggressive trade policies. Fears of a prolonged trade war and mounting macroeconomic tensions have triggered a wave of panic selling across risk assets, with Solana among the hardest hit. The altcoin has plunged over 60% from recent all-time highs, reflecting the brutal conditions gripping even the strongest large-cap tokens.<\/p>\n

Despite the carnage, there are early signs that a short-term rebound could be on the horizon. Prominent analyst Bluntz shared his outlook on X, noting that he has started bidding on several oversold altcoins like Solana, showing bullish divergence. According to Bluntz, many of these tokens have fallen in a straight line, setting the stage for what he believes could be \u201csizeable bounces\u201d in the near term.<\/p>\n

While he doesn\u2019t believe this is the definitive market bottom, the presence of bullish divergence across multiple charts offers a glimmer of hope for traders seeking relief rallies. With Solana hovering at critical support levels, all eyes are on whether this bounce thesis plays out \u2014 or if further downside awaits.<\/p>\n

Solana At A Critical Juncture As $100 Level Faces Pressure<\/h2>\n

Solana is now at a crucial technical and psychological crossroads as the $100 level remains a key price to hold. After a brutal selloff that intensified over the weekend, Solana dropped more than 20% in just a few hours, reflecting the panic and uncertainty dominating crypto markets. The breakdown below $120 signaled a major shift in sentiment, and the breach of $100 has left bulls scrambling to defend one of the last major supports before lower demand zones come into play.<\/p>\n

Bulls initially lost control as price action turned sharply bearish last week, triggered by broader macroeconomic instability. US President Donald Trump\u2019s new wave of tariffs has intensified trade war fears, adding pressure to an already fragile global market. Risk assets like Solana have been hit especially hard, with many altcoins suffering from sharp drawdowns amid growing investor fear.<\/p>\n

Still, there\u2019s a potential glimmer of hope. Bluntz contrarian view<\/a> on X notes that he has begun bidding on several altcoins \u2014 including SOL and HYPE \u2014 that have dropped over 60% in near-vertical moves. He highlighted bullish divergences forming across multiple charts, which often precede relief bounces.<\/p>\n

\"Solana<\/p>\n

\u201cI definitely don\u2019t subscribe to the idea this is \u2018THE BOTTOM,\u2019\u201d he added, \u201cbut sizeable bounces are highly likely in my opinion.\u201d<\/p>\n

While the long-term trend remains under pressure, signs of oversold conditions and hidden strength could offer traders short-term opportunities. For Solana, the ability to reclaim and hold the $100 level could spark a recovery bounce. Otherwise, deeper losses may follow.<\/p>\n

Price Action Details: Key Liquidity Levels<\/h2>\n

Solana (SOL) is currently trading at $108 after several volatile days attempting to hold above the critical $100 support level. This price range has become a major battleground for bulls and bears, as sentiment across the broader crypto market remains fragile. Macroeconomic instability, rising trade tensions, and ongoing selling pressure have pushed risk assets into uncertain territory \u2014 and Solana is no exception.<\/p>\n

\"SOL<\/p>\n

Bulls are now faced with a crucial challenge. To shift the momentum and signal the beginning of a recovery phase, SOL must not only defend the $100 mark but also reclaim the $120 level, which previously acted as support before turning into resistance. A breakout above this zone could open the door for further gains and a potential short-term trend reversal.<\/p>\n

However, failure to hold the $100 level would likely lead to a deeper retracement. Analysts warn that a decisive breakdown below this support could send SOL plunging into the $80 range, where the next significant demand zone sits. With price action hanging in the balance, the coming days will be critical for Solana\u2019s trajectory \u2014 either triggering a recovery bounce or accelerating the current downtrend.<\/p>\n

Featured image from Dall-E, chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana has faced intense selling pressure over the past week as the broader crypto market reels from the impact of US President Donald Trump\u2019s aggressive trade policies. Fears of a prolonged trade war and mounting macroeconomic tensions have triggered a wave of panic selling across risk assets, with Solana among the hardest hit. The altcoin…<\/p>\n","protected":false},"author":1,"featured_media":3957,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116],"tags":[174,121,466,1622,1972,127,128,401,129],"class_list":["post-3956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-solana","tag-solana-analysis","tag-solana-breakdown","tag-solana-bullish-pattern","tag-solana-news","tag-solana-price","tag-solana-rally","tag-solusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3956"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3957"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}