Solana price bottom below $100? Death cross hints at 30% drop

3 hours ago 3

Solana (SOL) price completed a “death cross” connected the one-day illustration connected March 12, arsenic the altcoin consolidated adjacent its semipermanent enactment level astatine $125.

This could perchance accelerate the SOL terms sell-off successful the adjacent word for a driblet beneath $100 for the archetypal clip since February 2024.

Markets, Price Analysis, Market Analysis, Altcoin Watch, Solana

A decease transverse occurs erstwhile a bearish crossover occurs betwixt the 50-day and 200-day elemental moving averages (SMAs), with the semipermanent indicator supra the short-term indicator.

Last month, the 50-day and 200-day exponential moving averages (EMAs) triggered a decease transverse connected Solana’s one-day chart, aft which prices dropped 17%, from $137 to $122.

While the SMA and EMA decease crosses transportation akin implications, the EMA triggers the decease transverse faster since it responds much rapidly to terms changes. A treble decease transverse from the SMA and EMA volition apt summation the anticipation of a correction.

Historically, the likelihood are neutral for Solana. Since its inception, SOL’s terms has witnessed a decease transverse 3 times (including 2025) erstwhile prices person been connected a 90-day oregon higher downtrend.

The archetypal decease transverse successful 2022 triggered a 90% collapse, but the FTX’s fiasco escalated its severity. The 2nd decease transverse occurred successful September 2024, but it reversed wrong a month, starring to the Trump rally.

Yet, the existent operation and sentiment reflector the 2022 decease transverse erstwhile we comparison marketplace conditions. On some occasions, a caller all-time precocious preceded the downtrend, which led to the decease cross.

As Cointelegraph reported, Solana’s gross dropped 93% since January, dropping from $238 cardinal to $32 million. This indicates a existent deficiency of enactment connected Solana’s web aft the extremity of the memecoin frenzy.

Can Solana traders support $125?

Based connected its technicals, Solana remains successful a tricky spot erstwhile comparing erstwhile decease transverse returns and corporate marketplace sentiment.

Solana indispensable clasp enactment betwixt $125 and $110 for a bullish reversal. Since March 2024, SOL prices person rebounded six times aft investigating the enactment range, closing supra $125 connected each play retest.

A play adjacent beneath $125 volition awesome marketplace weakness, perchance expanding the likelihood of a driblet beneath $100. The contiguous terms people aft $110 is astir $80 for Solana, which is simply a important 30% correction. The downtrend people carries confluence with the play 0.5 Fibonacci retracement line.

However, the bulls volition pin their hopes connected a bullish divergence betwixt the terms and comparative spot scale (RSI) connected the 1-day and 4-hour charts.

If Solana manages to debar different little low, the divergences volition stay valid, which tin propulsion prices higher supra $125, enabling Solana to debar a driblet beneath $100 and perchance found a bottommost astatine $112.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

Read Entire Article