Solana (SOL) has recovered over 12% today after Trump announced a 90-day pause on tariffs. Despite the significant recovery, technical indicators continue flashing bearish warnings. Key indicators like the RSI, BBTrend, and EMA lines all point to weakening momentum and a lack of buyer conviction. While oversold conditions have started to stabilize, the broader structure still leans slightly in favor of sellers.

Solana RSI Shows The Lack Of Conviction Among Buyers

Solana’s Relative Strength Index (RSI) is currently sitting at 45.52, hovering in neutral territory but remaining below the midline of 50 for nearly two days.

This comes after the RSI briefly dipped to an oversold level of 21.53 two days ago, indicating that sellers had briefly dominated before demand began to stabilize.

The RSI’s slow climb back toward neutral suggests that while extreme selling pressure has eased, bullish momentum has not yet taken control.

The RSI is a momentum oscillator that measures the speed and magnitude of recent price movements. It typically ranges from 0 to 100.

Readings above 70 are generally interpreted as overbought, signaling the potential for a pullback, while readings below 30 suggest oversold conditions and potential for a rebound.

Solana’s RSI at 45.52 indicates that the asset is in a recovery phase but lacks conviction. If the RSI fails to cross above 50 soon, it could imply continued hesitation among buyers and the potential for sideways price action or even another leg lower.

SOL BBTrend Has Reached Its Lowest Levels In Almost A Month

Solana’s BBTrend indicator is currently at -14.19, having turned negative since yesterday, and is at its lowest level since March 13—nearly a month ago.

This shift into deeper negative territory suggests that bearish momentum is building once again after a period of relative stability.

The return to these levels may indicate growing downside pressure, especially if follow-through selling continues in the short term.

The BBTrend (Bollinger Band Trend) is a volatility-based indicator that measures the strength and direction of a price trend using the distance between price and Bollinger Bands.

Positive BBTrend values generally reflect bullish momentum, while negative values signal bearish momentum. The deeper the reading into negative territory, the stronger the downward pressure is considered to be.

Solana’s BBTrend is now at -14.19, implying an intensifying bearish phase, which could mean further price declines unless sentiment or volume shifts quickly in favor of buyers.

Will Solana Dip Below $100 Again In April?

Solana’s EMA setup continues to reflect a strong bearish structure, with short-term moving averages remaining well below long-term ones.

This alignment confirms that downward momentum is still in control, keeping sellers in a dominant position.

However, if Solana price manages to sustain the current strength and buying interest, it could test resistance at $120. A break above that level may open the path toward the next target at $134.

On the downside, if the current bearish trend persists, Solana could revisit support near $95, a level that has previously acted as a short-term floor.

Losing this level would be technically significant, potentially pushing SOL below $90—territory not seen since January 2024.

The US Senate has confirmed Paul Atkins as the new chair of the Securities and Exchange Commission. Senators approved the appointment on Wednesday with a 52-44 vote. 

Atkins is expected to shift the agency’s approach to financial oversight. He plans to ease regulatory requirements, scale back corporate disclosure rules, and continue the commission’s new pro-crypto stance. 

SEC Has a Pro-Crypto Chair

Since last week’s Senate hearing, there have been some doubts about Paul Atkins’ appointment. This was largely due to his significant crypto exposure as an investment leader. 

However, the Senate has decided today with a tight vote.

The leadership change follows a period of major transition at the agency. Mark Uyeda, who served as acting chair after Gensler’s departure, launched a fast-paced overhaul of crypto policy. 

“Confirmed, 52-44: Confirmation of Executive Calendar #61 Paul Atkins to be a Member of the Securities and Exchange Commission for the remainder of the term expiring June 5, 2026,” wrote the Senate Cloakroom.

Under Uyeda, the SEC dismissed several major enforcement actions tied to digital assets. The agency also declared that certain crypto sectors — including stablecoins, proof-of-work mining, and meme coins fall outside its jurisdiction.

Some of these areas have financial links to the Trump family. Their ventures include meme coin projects and connections to World Liberty Financial, a firm backing its own stablecoin. 

Atkins is expected to formalize these regulatory shifts and oversee any new standards that may follow from pending legislation.

“Atkins may have made history tonight as the first SEC commissioner to get confirmed by the Senate three times. Once in 2002, then again in 2003, and now in 2025,” wrote Eleanor Terrett.

The SEC has already begun loosening several other rules. Uyeda delayed implementation deadlines for policies introduced during Gensler’s term. 

He also revised rules on shareholder proposals, making it harder for activists to force issues onto corporate ballots. 

The agency withdrew its defense of rules that required companies to disclose climate-related risks and emissions.

Atkins will take over a smaller agency. Around 500 staff have accepted voluntary resignations or buyouts. This has been part of the Trump administration’s broader effort to shrink federal agencies.