Solana is on the verge of forming a Death Cross on the daily timeframe, with the 50-day moving average (MA) set to cross below the 200-day MA in the next day or two. This technical event is often seen as a bearish signal, indicating potential downside movement.
Key Observations on Solana’s Upcoming Death Cross
Historical Context
The last major Death Cross on Solana occurred in early 2022, leading to an extended two-year bearish phase with SOL dropping from its highs.
However, past performance does not guarantee a similar outcome, especially considering different market conditions.
What Could Happen Next?
If Solana confirms the Death Cross, it may see increased selling pressure, leading to a test of key support zones.
The broader crypto market sentiment and Bitcoin's movement will play a critical role in determining if this breakdown is sustained.
Critical Levels to Watch
Support Zones: $100, $85, and $65 if a deep correction occurs.
Resistance Areas: $140–$150, where bulls must regain control for recovery.
Could This Be a Fakeout?
If Solana stabilizes above key supports or sees sudden bullish catalysts (e.g., strong ecosystem growth, and institutional inflows), it could invalidate the bearish thesis.
Market-Wide Influence
If Bitcoin remains strong, altcoins like Solana might see limited downside.
A broader crypto correction, however, could accelerate the bearish breakdown.
Final Thoughts
While a Death Cross is a bearish signal, it doesn’t guarantee a prolonged downtrend. The next few days will be critical—watch for volume, support reactions, and overall market sentiment before making strong bearish bets.
Key Observations on Solana’s Upcoming Death Cross
Historical Context
The last major Death Cross on Solana occurred in early 2022, leading to an extended two-year bearish phase with SOL dropping from its highs.
However, past performance does not guarantee a similar outcome, especially considering different market conditions.
What Could Happen Next?
If Solana confirms the Death Cross, it may see increased selling pressure, leading to a test of key support zones.
The broader crypto market sentiment and Bitcoin's movement will play a critical role in determining if this breakdown is sustained.
Critical Levels to Watch
Support Zones: $100, $85, and $65 if a deep correction occurs.
Resistance Areas: $140–$150, where bulls must regain control for recovery.
Could This Be a Fakeout?
If Solana stabilizes above key supports or sees sudden bullish catalysts (e.g., strong ecosystem growth, and institutional inflows), it could invalidate the bearish thesis.
Market-Wide Influence
If Bitcoin remains strong, altcoins like Solana might see limited downside.
A broader crypto correction, however, could accelerate the bearish breakdown.
Final Thoughts
While a Death Cross is a bearish signal, it doesn’t guarantee a prolonged downtrend. The next few days will be critical—watch for volume, support reactions, and overall market sentiment before making strong bearish bets.
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